- The Annual Tax Act 2024 was approved by the upper house of the German parliament on 22 November 2024
- The Act will enter into force after being signed by the president and published in the federal gazette
- It is expected to take place in late November/early December 2024
- This is likely the last tax legislative measure of the current government before the planned snap elections on 23 February 2025
- All pending legislative proposals are automatically terminated when a new parliament is elected
- The threshold for qualifying as a small entrepreneur for VAT purposes will be increased from EUR 22,000 to EUR 25,000 for the preceding fiscal year
- It will also be increased from EUR 50,000 to EUR 100,000 for the current fiscal year
- Additional measures are included to fully implement Council Directive (EU) 2020/285 into German VAT law.
Source: taxathand.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.
Latest Posts in "Germany"
- BMF Issues Final Guidance on VAT Exemption for Educational Services Effective January 2025
- Input Tax Deduction Right: Timing, Invoicing, and No Retroactive Deduction (BFH, 2025)
- Germany Clarifies VAT Exemptions for Educational Services, Expands Eligible Providers and Services
- Right to Input VAT Deduction When Invoice Received After Ceasing Domestic Transactions – BFH XI R 17/22
- VAT on Digital Content Voucher Codes: Single-Purpose Vouchers Subject to Tax Upon Transfer in Germany
