- Luxembourg Chamber of Deputies reviewing Bill 8406 to change VAT law
- Aligning with EU directives and regulations
- Focus on special VAT scheme for small businesses, reduced VAT rates, administrative cooperation
- Amendments presented to parliament on 1 July, 2024
- Measures to take effect on 1 January, 2025
- Key proposed measures include increasing VAT exemption threshold for small businesses, optional exemptions for taxable persons in other EU Member States, and new regulations for claiming VAT exemption for transactions in other Member States.
Source: regfollower.com
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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