Invoicing and payment
Invoicing contributions and payment terms 2021
In April 2021, Valumat sends the first of three advance invoices for 2021 to the participants.
That total advance financing is calculated as follows: number of mattresses on the Belgian market in 2020 multiplied by the rates of 2021.
The amount of the first advance invoice is 25% of the total advance financing for 2021.
In the first instance we only invoice 25% of the total amount because it is impossible for the participants to pre-finance the totality of this contribution.
This first invoice is payable by the end of May 2021.
In the course of July 2021, Valumat will invoice the second advance invoice and in the course of October 2021 the third and last advance invoice for 2021. The amount of these advance invoices is 25% of the total advance for 2021 in each case. These invoices are payable within 30 days.
This means that participants only have to pay 75% of the advance financing due for 2021 in 2021. The balance of 25% will be settled in April 2022 together with the settlement for the year 2021 (see below).
Invoicing contributions and payment terms 2022-2023
In april 2022, Valumat sends a settlement of the past year (2021).
The settlement is the difference between the actual contribution for 2021 (see 2021 declaration) and the advances already invoiced and paid for 2021.
This invoice is payable within 30 days.
Valumat sends the advance invoice for 2022 to the participants at the same time. The total advance financing is calculated as follows: number of mattresses placed on the Belgian market in 2021 multiplied by the rates of 2022.
25% of the amount is due at the end of May, 25% is due at the end of August and 25% is due at the end of November 2022.
This means that each year participants only have to pay 75% of the advance financing due for 2022 in 2022. The balance of 25% will be settled in April 2023 together with the settlement for the year 2022. The 2022 settlement is the difference between the actual contribution for 2022 and the advances already invoiced and paid for 2022.
This ensures that the pre-financing for the participants is limited and that the totality of the VAT charged can be immediately recovered.
Click here for the timeline of declaration, invoicing and payment.
Transition period 2020-2021
Transitional arrangement: on ‘make-to-order’ or ‘reference’ orders from retailers with manufacturers until December 31, 2020 will not be charged Valumat contributions. Valumat itself will compensate for this non-collection by not charging any contributions to the manufacturer for the month of January 2021. In practice, this means that for the year 2021, Valumat will only invoice 11/12ths of the reported quantities sold in 2020 to the manufacturer. The manufacturer therefore does not pay a contribution on the sale of 1 month on average.