European Commission Issues VAT Rules for Small Enterprises, Including Exemptions and Thresholds

European Commission issued VAT rules for small enterprises on Nov. 12
Special VAT regime for small enterprises to sell goods and services without charging VAT from Jan. 1, 2025
Small enterprises selecting VAT exemption will lose right to deduct VAT on goods and services
Maximum national annual threshold for VAT exemption is 85,000 euros
Small enterprises can VAT exempt cross-border supplies in same manner as domestic transactions
Small enterprises with total annual turnover not exceeding 100,000 euros eligible for cross-border SME regime

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