Frequently asked questions about accounting, VAT and tax

Accurate bookkeeping is a legal requirement in Belgium, but above all it is your financial dashboard. It shows your cash flow, profitability and upcoming taxes, and it underpins your VAT returns, tax return and annual accounts.

At Bocon we make sure your accounts are compliant and also useful for decisions: when to invest, how much to set aside for tax and how to finance growth.

It depends on your legal form and turnover. Companies such as a BV, NV or CV always keep double-entry accounts with a balance sheet, profit and loss account and annual accounts. Sole traders (natural persons) and some partnerships without legal personality may keep simplified (single-entry) accounts as long as annual turnover (excl. VAT) does not exceed €500,000.

Bocon supports both and tells you which system is required or most practical for your business.

Source: FPS Finance – businesses

Usually monthly or quarterly, in line with your VAT return. The more invoices and transactions you have, the more it pays to update more often. Processing and reviewing your figures regularly lets your accountant act sooner and avoids surprises at tax-return or year-end time.

You can, provided you know the Belgian accounting and VAT rules well. Software helps collect and post documents, but it does not decide whether a cost is deductible, which VAT treatment applies or how to work tax-efficiently. Many business owners underestimate this.

Bocon combines digital tools with review and advice from an experienced accountant, so you save time without taking risks.

As a rule, 10 years. The tax retention period for books, invoices and other supporting documents was extended from 7 to 10 years. You may keep records electronically, provided they remain complete, legible and unaltered and you can produce them when the tax authorities ask.

If you use Peppol e-invoices, keep them in their electronic form. Bocon tells you which documents to keep and how to organise this digitally.

Source: FPS Finance – businesses

Essentially everything that moves money in or out of your business: purchase and sales invoices, credit notes, bank statements, receipts, contracts (rent, leasing, loans), insurance policies and payslips. Letters from the tax authorities or your social insurance fund belong there too.

At Bocon we agree together how you submit documents: digitally via e-invoicing, your invoicing software or scans. That keeps processing smooth and ensures no deductible cost is missed.

The general meeting approves the annual accounts within 6 months of the financial year-end. The accounts must then be filed with the National Bank’s Central Balance Sheet Office within 30 days, and no later than 7 months after the year-end. Late filing incurs an additional fee and may have further consequences.

Bocon prepares your annual accounts and makes sure they are filed correctly and on time.

Source: National Bank – Central Balance Sheet Office

Business expenses are costs incurred to earn or retain professional income, such as rent, internet, phone, software, training, insurance and transport. They must be supported by evidence. Not everything is fully deductible: restrictions apply to items such as restaurant costs, business gifts and company cars, and the deduction of car costs depends on emissions and purchase date.

Bocon maps your costs correctly and makes sure you get the full deduction in your tax return.

Source: FPS Finance – businesses

As soon as you independently and regularly supply goods or services, you are in principle liable for VAT. This applies to sole traders and companies, whether full-time or as a secondary activity. Some activities are exempt (for example certain medical or educational services), and small businesses can opt for the exemption scheme.

Bocon analyses your activity, determines your VAT status and handles the registration.

Source: FPS Finance – VAT

If your annual turnover stays below €25,000 (excl. VAT), you can opt for the exemption scheme. You then charge no VAT, but you cannot recover VAT on purchases and you do not file periodic VAT returns. If you exceed the threshold during a year by no more than 10%, you keep the exemption for that year. New businesses calculate the threshold pro rata.

Not every sector qualifies (for example work on immovable property). You report your turnover annually via the client listing by 31 March. Bocon calculates whether the scheme benefits you and monitors your turnover.

Source: FPS Finance – VAT

Since 1 January 2026, Belgian VAT-registered businesses must send and receive invoices to and from each other (B2B) as structured electronic invoices. This happens via the Peppol network, so a PDF by email no longer counts as an official invoice between businesses. The tolerance period for the first quarter of 2026 has ended.

You need invoicing or accounting software connected to Peppol, such as onFact or Billit. Bocon helps you choose, links your e-invoices to your accounts and checks that everything runs correctly.

Source: efactuur.belgium.be – official e-invoicing information

The government’s official online check tells you in a few clicks whether the obligation applies to your business. If you are unsure about specific cases, such as exempt activities or invoices to consumers or foreign customers, discuss them with us.

Source: Official check: does e-invoicing apply to my business?

Among other things: the invoice date, a unique sequential invoice number, your and your customer’s name, address and VAT number, the date of supply, a clear description, the quantity, the taxable amount per VAT rate, the rate applied and the VAT amount. For exemptions or reverse charge, include the correct legal wording.

Bocon checks your invoice template and makes sure it is also correct as a Peppol e-invoice.

Source: FPS Finance – VAT

Monthly or quarterly. Quarterly filing is possible as long as your annual turnover does not exceed €2,500,000 (excl. VAT). Monthly returns are due by the 20th of the following month and quarterly returns by the 25th of the month after the quarter, via Intervat.

There is also the annual client listing (by 31 March) and, for supplies to EU VAT-registered customers, the EC sales list. Bocon tracks all deadlines and files everything on time.

Source: Intervat – VAT returns

You risk administrative fines and late-payment interest, and penalties can increase with repeated or larger amounts. Contact us promptly: Bocon reviews your situation, regularises where possible and works out a solution with you, such as a payment plan.

Source: FPS Finance – VAT

The standard rate is 21%. There are also reduced rates of 12% and 6% (including for food, certain home renovations and some services) and a zero rate for a limited number of transactions. Which rate applies depends on the goods or service and sometimes on conditions such as the age of a home.

Bocon helps you apply the right rate so you never charge too much or too little VAT.

Source: FPS Finance – VAT

Your VAT number is your enterprise number with the BE prefix. You receive it when registering with the Crossroads Bank for Enterprises (CBE) through an accredited business counter, where you also have your VAT liability activated. Bocon handles this for you or guides you through the application.

Sources: Accredited business counters (FPS Economy) · Crossroads Bank for Enterprises – public search

For passenger cars, VAT deduction is in principle limited to business use, up to a maximum of 50%. Different rules apply to light commercial vehicles and vehicles used exclusively for business. Bocon calculates the right deduction percentage and also considers income tax, where the deduction of car costs keeps changing in the coming years.

Source: FPS Finance – VAT

As a sole trader you pay personal income tax on your profits at progressive rates and file an annual return via MyMinfin. If you work through a company, the company pays corporate tax on its profits and you pay personal income tax on the salary and any dividends you receive.

Bocon prepares your personal and corporate tax returns and looks for the most favourable combination.

Source: MyMinfin (FPS Finance)

The standard corporate tax rate is 25%. Small companies can benefit from a reduced rate of 20% on the first €100,000 of profit. To qualify they must meet conditions, including paying a minimum remuneration to at least one company director. That minimum has been raised by the tax reform and will be indexed annually.

Bocon calculates the current amount for your financial year and plans your remuneration so you keep the reduced rate.

Source: FPS Finance – businesses

Advance payments are instalments of your tax, spread over four due dates a year (April, July, October and December). Companies that pay too little in advance incur a tax surcharge, although small companies are exempt from it for their first three financial years. For sole traders the rules change from income year 2026, but paying in advance can still earn a tax credit.

Bocon calculates how much to pay in advance and when, so your cash flow stays under control.

Source: FPS Finance – businesses

By aligning your income, expenses, investments and remuneration. Think of the right balance between salary and dividends, making full use of deductible business expenses, the investment deduction and a supplementary pension such as the VAPZ (free supplementary pension for the self-employed). What works best depends on your situation.

Bocon reviews your figures regularly and advises tailored, fully lawful optimisations.

The main steps: open a business bank account, register with the CBE through an accredited business counter (you receive an enterprise number), have your VAT liability activated, join a social insurance fund, arrange the necessary permits and insurance, and set up your bookkeeping and e-invoicing.

Bocon guides you step by step so you forget nothing and start correctly from day one.

Sources: Accredited business counters (FPS Economy) · Belgium.be – starting a business

It depends on your activity, risks, expected profit and plans. A sole proprietorship is simpler and cheaper to start, but your personal assets are fully exposed. A company involves more administration, but limits your liability and often becomes more tax-efficient as profits grow.

Bocon compares both options concretely based on your figures.

As a self-employed person you pay provisional social contributions to your social insurance fund every quarter. Since there is no reference income in the first years, you pay at least a minimum contribution or contributions based on estimated income. Once the tax authorities report your final income, usually about two years later, there is a regularisation: you pay the difference or get a refund.

Bocon helps you estimate realistic income so you are not faced with a large back-payment.

Source: NISSE – social security for the self-employed

Yes. You are self-employed as a secondary occupation if you also work at least half-time as an employee or civil servant (or have an equivalent status). Your social contributions are then lower, and sometimes nil on limited income. You still pay personal income tax on the extra profit and may be liable for VAT.

Bocon assesses whether starting part-time suits you and ensures correct registration.

Source: NISSE – social security for the self-employed

It depends on your region, sector and project. In Flanders, VLAIO supports businesses with, among others, the SME wallet for advice and training and subsidies for growth and innovation. You may also benefit from tax measures such as the investment deduction and lower social contributions in the start-up phase.

Bocon checks what you qualify for and helps with the application.

Source: VLAIO – support and grants for businesses

A financial plan forecasts your turnover, costs, investments and financing over at least two years, with the underlying figures and assumptions. It is a legal requirement when incorporating a BV, NV or CV and is given to the notary. For a sole proprietorship it is not mandatory, but it is a strong tool to test feasibility and secure financing.

Bocon prepares a realistic financial plan with you.

Source: Notaris.be – incorporating a company

It is strongly recommended. Your first decisions, such as legal form, VAT status, social contributions and invoicing, have a major impact on what follows. A good accountant helps you avoid mistakes and penalties from day one and set up efficient administration.

Bocon supports start-ups in and around Antwerp with a personal approach.

Usually when profits rise structurally: corporate tax is then often lower than the top personal income tax brackets. Limiting your personal liability, bringing in partners or investors and preparing a future transfer can also be reasons. On the other hand there is more administration and cost.

Bocon makes an objective calculation and helps you switch when it really pays off.

The main forms in Belgium are the BV (private limited company), the NV (public limited company), the CV (cooperative company) and the VOF or CommV, in which partners have unlimited liability. The BV is the most popular choice for SMEs and the self-employed because it is flexible and requires no minimum capital.

Bocon explains the differences and helps choose the structure that fits your plans.

Source: Notaris.be – incorporating a company

No. Since the Code of Companies and Associations (2019), a BV no longer requires minimum capital. The founders must, however, provide sufficient initial equity and draw up a financial plan. If the company goes bankrupt within three years with manifestly insufficient initial equity, the founders can be held liable.

Bocon helps you determine and justify the right starting equity.

Source: Notaris.be – incorporating a company

You draw up a financial plan and articles of association, open a bank account for the initial equity and execute the deed of incorporation before a notary, who files and publishes it. Then follow registration with the CBE, VAT activation, the UBO register and joining a social insurance fund.

Bocon guides you from A to Z, including the accounting and tax set-up.

Sources: Notaris.be – incorporating a company · Accredited business counters (FPS Economy)

It is not mandatory, but often wise. To benefit from the reduced corporate tax rate, at least one company director must receive a minimum remuneration. The split between salary and dividends also determines your net income, social contributions and pension build-up.

Bocon advises on the optimal mix, considering your private needs and the tax impact.

A holding is a company that owns shares in other companies. It can be useful if you have several activities, want to reinvest profits, are preparing a sale or succession or want to spread risk. A holding does add costs and administration and is not worthwhile for everyone.

Bocon assesses whether a holding fits your long-term strategy and helps set it up.

A management company invoices management or advisory services to an operating company or external clients. For consultants, liberal professions and company directors it can bring tax and organisational benefits, but the structure must reflect reality and be properly documented.

Bocon examines whether it adds value in your situation.

You are responsible for meeting accounting, tax and legal obligations: proper bookkeeping, timely VAT and tax returns, approval and filing of the annual accounts, the annual confirmation of the UBO register and correct payroll. Serious failings can make you personally liable as a director.

Bocon monitors this for you so you meet every obligation without worry.

Source: National Bank – Central Balance Sheet Office

The terms are often used interchangeably. A bookkeeper or accounting firm keeps your books and handles returns. Accountant and tax advisor are protected professional titles in Belgium, regulated by the ITAA (Institute for Tax Advisors and Accountants): holders are accredited, follow a code of ethics and carry professional liability insurance.

Bocon combines bookkeeping, tax advice and guidance under one roof.

Source: ITAA – Institute for Tax Advisors and Accountants

Yes. Bocon is registered with the ITAA under number 52.348.270 and has worked for self-employed people, start-ups and SMEs since 2002. You can verify our details in the ITAA public register.

Source: ITAA – Institute for Tax Advisors and Accountants

It depends on your legal form, the number of invoices and transactions, your VAT regime and the services you need, such as payroll or tax advice. That is why we do not work with a standard price but with a clear tailored quote. After a free, no-obligation introductory meeting you know exactly where you stand.

Yes, you can switch at any time. You end your current engagement according to the agreed notice period. Your new accountant contacts the previous one, as professional ethics require, and takes over your file and any pending returns.

Bocon makes the switch as smooth as possible without missing any deadline.

Our office is at Rubenslei 6a, 2018 Antwerp, but we support businesses from all Antwerp districts and the entire province of Antwerp. Digital collaboration means a lot can be done remotely, and you are always welcome at our office. We also have experience with jewellers and the gold and diamond trade.

See our service area · accountant for jewellers · diamond trade · gold trade

We respond to emails and messages within 24 hours. Our office is open Monday to Friday, from 9:00 to 12:30 and from 13:30 to 17:00. Reach us at +32 3 227 55 22, boekhouding@bocon.be or WhatsApp.