- Proposed draft regulations in the EU aim to introduce VAT exemption for small businesses
- Changes will allow small enterprises in one EU Member State to benefit from VAT exemption in other Member States
- Conditions for benefiting from the exemption include registering the business in the country of establishment and submitting quarterly turnover information
- Entrepreneurs must comply with national and EU exemption limits to maintain the right to exemption
- The draft act is expected to be adopted in the third quarter of 2024, with new solutions available to entrepreneurs in 2025.
Source: crowe.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.
