- The European Commission has issued reasoned opinions to Bulgaria, Greece, Spain, and Romania for failing to fully transpose Directive 2020/285, which updates the special VAT scheme for small enterprises.
- The Directive simplifies VAT compliance and allows cross-border SME exemptions, enabling small businesses from other Member States to benefit from VAT relief similar to domestic ones.
- The four Member States have two months to comply; otherwise, the Commission may refer the cases to the Court of Justice of the EU and seek financial penalties.
Source ec.europa.eu
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