Belgium's Federal Public Service (SPF) Finance has issued a release on the VAT penalty and refund interest rates for 2023. The release notes that following the entry into force of the Law of 20 November 2022, VAT interest rates will now be reviewed annually. Therefore, the late payment and refund interest rates are reduced respectively to 8% and 6% per year from 1 January 2023.
As previously reported, the Law of 20 November 2022 established that the late payment interest rate for VAT is t…