- The German Official Gazette published the Annual Tax Act 2024 on December 5
- The law raises VAT exemption thresholds for small businesses
- Thresholds increased to 25,000 euros from 22,000 euros for the prior year
- Thresholds also raised to 100,000 euros from 50,000 euros for the current year
- Changes to take effect from January 1, 2025
- Introduces EU small business VAT exemption for cross-border supplies starting January 1, 2025
Source: news.bloombergtax.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.
