Key takeaways
- A VAT credit arises when the VAT deducted on your purchases exceeds the VAT due on your sales: the balance shows in box 72 of the periodic return.
- By default, this credit is carried forward to the next period; a refund must be claimed expressly in the return.
- Since the VAT chain reform, a refund through the return requires a credit of at least 50 euros and returns filed on time.
- The VAT current account has given way to the VAT provision account, consulted on MyMinfin.
Every VAT return settles one way or the other: either you owe VAT to the State, or the State owes it to you. The second case, the VAT credit, is nothing unusual: it affects businesses that invest, those that export and any business whose taxed purchases exceed, over a period, its taxed sales. The VAT chain reform, carried by the law of 12 March 2023, changed how this balance is recovered as of 2025. This article explains what a VAT credit is, when it carries forward, how to obtain a refund and within what deadlines.
What a VAT credit is
The VAT you charge your customers is not yours: you collect it for the State. Against it, you deduct the VAT your suppliers charged you on your business purchases. Each period, the return sets these two amounts against each other. When the VAT due on sales wins out, you pay the difference. When the deductible VAT wins out, the balance is in your favour: that is the VAT credit.
This credit appears in box 72 of the periodic return, the box that states the sum owed by the State to the taxable person. It results directly from the normal working of the return; it reflects neither an error nor a favour. A recurring credit simply signals an activity profile: a business in an investment phase, an exporter who invoices without VAT but deducts the VAT on its costs, or an activity taxed at a reduced rate downstream and at the standard rate upstream.
Carry-forward or refund: the default choice
Faced with a credit, you have two routes. The first, the carry-forward, is the default behaviour: the credit is kept and automatically set off against the VAT you will owe in the following periods. You receive nothing in your account, but you pay less, or nothing, at the next deadline until the credit is used up. No formality is required.
The second route, the refund, pays the credit back in cash. It is not automatic: you must claim it expressly, by ticking the refund box when filing the periodic return. Without that claim, the credit is carried forward, full stop. The choice depends on your cash flow: carrying forward is neutral if you are regularly in a payment position; claiming the refund frees up tied-up cash, which matters for a growing or seasonal business.
| Carry-forward | Refund | |
|---|---|---|
| Step to take | None (default) | Tick the refund box |
| You receive cash | ||
| The credit offsets future VAT | ||
| Suited if you regularly owe VAT | ||
| Frees up tied-up cash |
The refund conditions since the VAT chain reform
The law of 12 March 2023 modernising the VAT chain came into force in stages from 2025. It unified and lowered the conditions for a refund through the return. A single set of rules now applies to monthly and quarterly filers alike.
The conditions for a refund via the return
A credit of at least 50 euros
The amount claimed as a refund through the return cannot be below this threshold.
The return for the period filed on time
The claim is made in the return of the period that generates the credit.
The returns of the previous six months filed on time
A record of regular filing is a condition of the refund.
A bank account number provided
The authorities must hold a valid account to pay you the sum.
One point deserves attention: a refund claimed through the return is limited to the credit of the period concerned. You do not recover, by this route, a credit built up over earlier periods. Those older credits are claimed differently, through the VAT provision account described below.
The refund deadlines
The rhythm of your return sets both the frequency and the deadline of the refund. A monthly filer can obtain a refund for each period, so potentially every month; a quarterly filer, each quarter. The payment deadline differs as well.
minimum threshold
credit claimed as a refund through the return
monthly filer
refund deadline after the period
quarterly filer
refund deadline after the period
In practice, for a monthly filer, the refund is paid by the end of the second month following the return period at the latest. For a quarterly filer, payment is made by the end of the third month following the quarter at the latest. These deadlines assume the conditions above are met and that no audit suspends the operation; a request for information you fail to answer on time can indeed block the refund.
The VAT provision account
The reform also replaced the former VAT current account with the VAT provision account, established by article 83bis of the VAT Code. This account centralises your position with the authorities: credits you have not claimed as a refund are posted to it and remain available there.
You consult this account on MyMinfin, the online portal of FPS Finance. It is also through this channel that you claim the refund of a credit sitting on the provision account, for example an older credit the period's return no longer lets you recover directly. The provision account thus becomes the gateway for everything that is not the standard claim lodged in the current return.
Keep your VAT returns in order
YouInv keeps your sales and purchases ready for the return, so your VAT credit is always correct and your filings on time.
Carry forward or claim: how to decide
The question is not one of principle but of cash flow. If your activity regularly leaves you owing VAT, letting the credit carry forward avoids a step and smooths your payments: the credit will be absorbed within one or two periods. Conversely, if you build up credits because you export, invest heavily or are starting out, that cash is sitting idle with the authorities. Claiming it puts it back to work in your business.
A useful habit: at each return, check the box 72 amount, confirm it exceeds the threshold, and decide knowingly rather than letting the carry-forward run by default. The regularity of your filings is no detail either: it is a condition of the refund, and a clean record saves you from a delayed payment. For the deadlines and filing arrangements, see our guide to the periodic VAT return in Belgium.
Further reading
- Periodic VAT return in Belgium: deadlines and filing: the framework in which the credit arises and is claimed.
- Non-deductible VAT in Belgium: the expenses concerned: what reduces your deductible VAT and therefore your credit.
- The VAT franchise scheme in Belgium: threshold and duties: why a business under the scheme does not deduct and builds up no credit.
The authoritative source prevails: the law of 12 March 2023 modernising the VAT chain and the guidance from FPS Finance published on MyMinfin and the finance portal.
What is a VAT credit?
A VAT credit arises when, over a return period, the VAT you deducted on your purchases exceeds the VAT you owe on your sales. The balance is in your favour and appears in box 72 of the periodic return. You can carry it forward to the next period or claim a refund.
Is a VAT credit refunded automatically?
No. By default, a VAT credit is carried forward to the next period and set off against the VAT due. To be refunded, you must claim it expressly by ticking the refund box when filing the periodic return concerned.
What is the minimum amount for a VAT refund?
Since the VAT chain reform, a credit claimed as a refund through the return must be at least 50 euros. The return for the period and those of the previous six months must have been filed on time, and a bank account number must be known to the authorities.
How long does a VAT refund take in Belgium?
For a monthly filer, the refund is paid by the end of the second month following the return period at the latest. For a quarterly filer, by the end of the third month following the quarter, provided the conditions are met.
What is the VAT provision account?
The VAT provision account replaces the former VAT current account under the VAT chain reform (article 83bis of the VAT Code). Credits not claimed as a refund are posted to it. You consult it on MyMinfin and can claim the refund of the amounts available there.
