Change VAT Rate
As from 1 October 2012 the general VAT rate of 19% will increase into 21%. Within this respect the State Secretary Weekers gave guidelines on how to proceed if services will be provided after September 30th 2012.
Entrepreneurs who will perform services which will be conducted after 30 September 2012 can already be invoiced at the rate of 21%. The entrepreneur who receives the invoice for services which will be performed after September 30th may take into account with the preparation of the VAT return this invoice under the new rate.
With continuous services, a split needs to be made for the part of the services that takes place after 30 September 2012. For the part of the services that take place after 30 September an additional invoice with 21% VAT needs to send.
For services which are invoiced by a “year bill” the following may be applied. If an entrepreneur send out the 2013 invoice (year bill), he can choose to have included in this invoice the additional tax due on the last quarter of 2012. On the invoice this must be mentioned as "na gefactureerde BTW 2012). If the entrepreneur decide to so he must pay the additional VAT due over the period October 2012.
Furthermore, The State Secretary gave guidelines with respect to real estate and the new VAT rate.
Please contact us if you need more information and/or how we can assist you with respect to the new VAT rate.