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?
Our platform has all the tools you need to do your accounting yourself.
Our platform has all the tools you need to do your accounting yourself.
Our platform has all the tools you need to do your accounting yourself.
Our platform has all the tools you need to do your accounting yourself.
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.