31 October 2024
From 1 January 2025, significant changes to the EU’s SME scheme will see VAT registration thresholds extended for use by EU companies trading in other EU member states.
This means EU companies trading as non-residents in other EU member states will not have to VAT register if their revenue is below the national threshold set in the EU country of sale, and their annual revenue across the whole of the EU does not exceed €100,000.
This initiative aims to encourage more EU based SMEs to trade within the EU single market by eliminating the need for immediate VAT registration, thereby reducing administrative and compliance costs. The new scheme will not be available to non-EU businesses, who will still have to register for VAT from their first sale.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
We help you simplify today’s complexities and address tomorrow’s challenges. The values we represent, and our consistent advice, mean you can trust Fiscal Solutions to do the right thing – for you and your organisation.
LATEST NEWS
E-invoicing hub
Navigating complexity and preparing for the digitalisation of VAT and the future of tax Following compromises and modifications to the original proposal, the...
SEE MORE
LATEST NEWS
EU finance ministers agree to introduce new customs...
In November, the Economic and Financial Affairs Council (ECOFIN) agreed to introduce a customs charge on low-value parcels valued below €150. The charge...
SEE MORE
LATEST NEWS
UPDATE: Swiss government confirms likely delay for the...
The Swiss tax authorities have confirmed that the increase in the standard VAT rate from 8.1% to 8.8% will now be postponed until 2028. This VAT rate increase...
SEE MORE