- ETAF’s Call for Enhanced E-Invoicing Regulations: The European Tax Adviser Federation urges the European Commission to strengthen e-invoicing regulations, emphasizing the need for improved security, interoperability, and integration into ERP systems to support VAT and ESG reporting, ahead of the EC’s upcoming e-invoicing strategy by summer 2025.
- Infringement Proceedings Against Eight Member States: The European Commission has initiated infringement proceedings against Bulgaria, Belgium, Greece, Ireland, Lithuania, Portugal, Romania, and Spain for failing to implement the new SME VAT registration scheme by the December 31, 2024 deadline, impacting small businesses seeking VAT exemptions.
- New SME VAT Exemption Scheme: Effective January 1, 2025, the SME VAT exemption will reduce compliance burdens for small businesses, allowing sales without VAT for those under national thresholds of up to €85,000 and providing a simplified registration and reporting process across the EU.
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