The Government proposal aims to simplify and harmonize the tax system for small enterprises in line with the EU VAT Directive. It seeks to reduce administrative burdens, create a level playing field for small businesses in the EU, and promote international trade. Changes include abolishing the current relief for minimum threshold tax liability, harmonizing the definition of minimum threshold, and extending tax exemption for minor activities to foreign businesses in the EU. The proposals are set to take effect on 1.1.2025.
Source vm.fi
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