- Special VAT regime (MME) for small businesses allows them to sell goods and services without charging VAT to customers and simplifies VAT compliance
- Small businesses choosing VAT exemption will lose the right to VAT deduction on goods and services used for exempt supplies
- Eligibility for VAT exemption is based on annual turnover not exceeding 100,000 euros in all EU member states
- New maximum national annual threshold set at 85,000 euros for VAT exemption within the MME system
- Cross-border application allows small businesses in other EU member states to exempt VAT on their supplies
- Simplified compliance includes single registration and a unified quarterly report for VAT purposes across all member states.
Source: taxheaven.gr
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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