The evolving fiscal and legal landscape: What’s changing for businesses?
Time flies! 2024 is slowly coming to an end, and Q4 has brought about many changes. Since we believe it’s important for you as an entrepreneur to stay informed, we’ve not only summarized the key legislative changes for this quarter, but we’re also looking ahead to measures that will come into effect starting in 2025. Read on to find out what you need to know!
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Fiscal boost for additional hires in expanded ‘support zones’
Are you looking to invest in the Flemish business landscape, and does your company operate in a support zone? Be sure to check if you can benefit from your next hire. The government wants to promote economic growth and employment in certain areas through a 25% exemption on the company tax withholding for two years for each new job created.
Since November 1, 2024, the support zones have been expanded, including business parks in West Flanders and western East Flanders. To apply for this fiscal boost, you must submit the form to the tax authorities within three months of your investment. Note: this benefit is only available to companies within the support zones and for employees hired after your investment.
Source: VLAIO and Mijn Tips & Advies
Extra time for VAT filing, but don’t be late!
Important news for quarterly VAT filers: starting in 2025, you’ll have an additional five days to submit your VAT return. The deadline will shift to the 25th of the month following the quarter. However, be aware that this extra breathing room comes with a stricter approach. While late filings used to be tolerated for a few days, this will no longer be the case. Starting in 2025, each late filing will incur a €100 fine per month, up to a maximum of €1,000. No exceptions. Furthermore, the deadline for VAT payment remains unchanged and is still due by the 20th of the month following the quarter. Extra time or not, it’s still important to stay on top of your deadlines to avoid unpleasant surprises!
Source: Vandelanotte
Digital e-invoicing starting in 2026: handy list of compliant software available
Good news for entrepreneurs: the government has released a handy list of reliable and compliant e-invoicing software! From now on, you can easily find programs that comply with the latest invoicing standards. This is especially useful as, starting in 2026, structured electronic invoices between businesses will become mandatory.
And there’s more: starting in 2025, investments in digital applications will receive a boost with an increased tax deduction of up to 20%. Moreover, until 2027, you’ll enjoy a significant cost deduction of 120% on subscriptions to e-invoicing software. This makes the switch to the Peppol network not only smarter but also easier on your wallet!
Source: Mijn Tips & Advies
Mandatory introduction of the Federal Learning Account (FLA) delayed
The mandatory introduction of the Federal Learning Account (FLA) has been postponed. The new requirement will take effect starting in April 2025, instead of November 30, 2024. With the FLA, as an employer, you would need to keep track of the training your employees follow and how much time they spend on it. This additional administrative burden proved to be a challenge for many entrepreneurs and faced strong criticism from business and employer organizations.
While FLA is now delayed, whether the obligation will be scrapped entirely is still unclear. Be sure to continue following developments in the new year to stay well-informed!
Source: VOKA
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