06.27.23

The acceleration of the B2B e-invoicing and e-reporting mandate in Belgian is not surprising: as discovered in a recent study performed by the International Monetary Fund (IMF), the Belgian tax authorities fail to collect approximately one fifth of the VAT due on products and services. The figures published represent a slight improvement from the pandemic period, but remain high, especially when compared with neighboring countries.  

The study will dictate the trajectory to further reduce the VAT gap in Belgium. Other initiatives, aside from the mandate, include the modernisation of the VAT gap and cash registers.   

 The IMF report can be accessed via the following link:  

https://www.imf.org/en/Publications/CR/Issues/2023/05/17/Belgium-Technical-Assistance-Report-Revenue-Administration-Gap-Analysis-ProgramThe-Value-533507?cid=em-COM-123-46566  

 Belgium is a compliant territory for Kofax and we intend to support the upcoming e-invoicing and e-reporting mandate. You can read further information about this here.