- Proposal to transpose amended VAT directive in Finland
- Changes effective from 1 January 2025
- Small businesses in EU member states can opt for VAT exemption if turnover is under EUR 100,000
- Special scheme for small entrepreneurs to be abolished
- Businesses only need to register for special scheme in their own EU member state
- Small entrepreneurs with turnover over EUR 15,000 must register for VAT when threshold is exceeded
- Standard VAT rate to increase from 24% to 25.5% on 1 September 2024
Source: bdo.global
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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