- The EU collected 33 billion euros in VAT from e-commerce last year.
- A report by the European Commission highlights the rapid growth of online trade.
- Changes in EU legislation have simplified VAT collection for traders.
- Declared VAT increased by 6.8 billion euros from 2023 to 2024, a 26 percent annual growth.
- Over 170,000 traders registered for simplified tax collection, a 16 percent increase in registrations.
- Legislative changes since 2021 have reduced bureaucracy and costs for traders.
- The need for multiple VAT registrations for cross-border sales in the EU has been eliminated.
- The removal of the 150-euro import threshold aims to reduce fraud in cross-border e-commerce.
- This proposal is pending approval by the EU Council and European Parliament.
Source: bta.bg
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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