Irish Revenue Explains EU VAT Scheme for Small Businesses

EU VAT SME Scheme from January 1, 2025: The Irish Revenue eBrief No. 315/24 explains that Irish businesses can now utilize VAT registration thresholds in other EU Member States, avoiding immediate VAT registration when making cross-border supplies.
Eligibility Criteria: To qualify, an Irish business must be VAT-registered in Ireland, not exceed the turnover thresholds of the other Member States or the EU-wide threshold of €100,000, and must file quarterly reports.
Optional Participation: The scheme is optional, allowing businesses to choose whether to apply normal VAT rules or opt for the SME scheme for their cross-border transactions.