New VAT Rules for Small Businesses: The SME Scheme Explained

• New VAT rules for small enterprises (SME scheme) introduced in January 2025
• Businesses must meet eligibility criteria, turnover thresholds, and consider the impact on VAT deductions
• The SME scheme allows small enterprises to apply VAT exemptions in other Member States
• Key benefits of the SME scheme:
  • No VAT charged
  • Simplified VAT compliance
  • Single VAT registration
  • Quarterly reporting

Source: zampapartners.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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