Towards the end of March 2020, Council Directive (EU) 2020/285 amending, among others, Directive 2006/112/EC on the common system of value added tax (“the VAT Directive”) entered into force, announcing a number of updates to the special VAT exemption scheme applicable to small enterprises.
These provisions are but an intermediate step to the definitive VAT system, which will be implemented throughout the single EU VAT area. The available timeline indicates that they should be transposed by Member States by 31 December 2024 and enter into force as of 1 January 2025. It is therefore quite early to tell if these amendments bring good tidings or not.
Source: schoenherr.eu
