- Irish Revenue has released eBrief No. 113/2025, detailing new guidelines for the EU VAT scheme for small businesses (SMEs), effective from 1 January 2025.
- This scheme, established under S.I. No 69/2025, allows SMEs to sell goods and services to EU customers without charging VAT, thus reducing their VAT compliance burdens.
- However, SMEs opting for this scheme will forfeit the right to deduct VAT on related purchases, and must not exceed the Union Annual Threshold of €100,000 to qualify.
Source: Orbitax
