If I make purchases of trade goods from outside the EU but am charged 21% vAT, can I simply process this as an expense in my accounts?
If I make purchases of trade goods from outside the EU but am charged 21% vAT, can I simply process this as an expense in my accounts?
You can enter this invoice in your expenses, but you will not be able to reclaim the vAT (vAT deduction % 0%) from the Belgian government. If you still want to do so, you will have to ask the seller for a new invoice and accompanying credit note. They can then refund the difference (the VAT). Invoices for purchases from abroad must therefore be issued without VAT if you have a VAT number yourself.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.