- New regulations for small businesses operating within the EU effective from 1st January 2025
- Small businesses will be able to use a new exemption in all Member States if their total annual turnover of taxable sales within the EU does not exceed EUR 100,000
- Each country will set its own threshold, not exceeding EUR 85,000 per annum
- Businesses under the threshold will not have to charge VAT on taxable supplies or submit periodic VAT Returns in the Member State where sales are made
- Changes result from a European Directive initiated in 2020 to support small businesses
Source: meridianglobalservices.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.
