The EU’s SME scheme is undergoing significant amendments, scheduled to take effect on January 1, 2025. The changes aim to introduce cross-border exemptions and standardize the maximum threshold at €85,000. SMEs operating across borders can qualify for the scheme by staying below €100,000 annual turnover across all EU states and not exceeding the €85,000 VAT threshold in any specific member state. The revisions aim to harmonize the VAT system across the EU, presenting new challenges and opportunities for SMEs.
Source Taxually
Latest Posts in "European Union"
- Transfer Pricing and VAT: Implications of Recent European Court of Justice Ruling
- ICS2 Implementation Delayed: Businesses Can Use ICSNI for ENS Declarations Until December 2025
- EU Advocate General: Hotels Must Split Services for VAT, Including Breakfast, Under German Law
- CJEU Decision Highlights VAT and Transfer Pricing Interplay in SC Arcomet Towercranes Case
- Understanding the Reemtsma Principle: EU VAT Reimbursements and Recent CJEU Rulings