- The SME scheme applies only to cross-border supplies in another EU Member State, not within Slovakia.
- Taxpayers can file objections in a Member State if refused the SME scheme.
- Exceeding local thresholds allows registration for the OSS scheme in those states.
- SME and OSS schemes can be used simultaneously, but not in the same Member State.
- Invoices under the SME exemption should include the supplier’s VAT number and a note of VAT exemption.
- Small businesses in cross-border trade should assess qualification for the SME scheme.
- Accurate invoicing and correct supply identification are crucial for exemption benefits.
- Businesses using both schemes must track which applies per country for compliance.
Source: fintua.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.
