February 4 - Imports thought the Port of Antwerp have become cheaper as it is now possible to defer value added tax (VAT) on imports without having to pay a deposit.
Before, importers who brought goods into Belgium through a national port had to pay VAT immediately when goods were declared for free circulation, which could then be claimed back in a periodic VAT declaration.
However, this method required a costly pre-financing arrangement. The pre-financing requirement, which was a competitive disadvantage for Belgian importers, was abolished as of January 1, 2013.
www.portofanterp.be
