- Greece has transposed EU Directive 2020/285 and Regulation 904/2010 into its VAT Code, introducing a special VAT exemption scheme for small enterprises.
- The scheme provides VAT exemptions for small businesses, both domestic and from other EU Member States, for goods and services supplied in Greece and across the EU.
- Implementation is phased, with start dates for exemptions ranging from January 1, 2025, to April 1, 2026, depending on the SME scheme and prior notifications.
- The scheme aims to simplify reporting and reduce administrative burdens for small businesses with low turnover.
- Eligibility: Greek businesses with annual turnover ≤ €10,000 and EU businesses with turnover below national thresholds and ≤ €100,000 EU-wide can benefit, with specific application and notification procedures for domestic and cross-border schemes.
Source: ey.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.
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