29 November 2024
From 1 January 2025, significant changes to the EU’s SME scheme will extend VAT registration thresholds for EU companies trading in other EU member states.
Under the new rules, EU companies trading in other member states will not need to register for VAT if their revenue is below the national threshold set by the country of sale, provided their annual revenue across the EU does not exceed €100,000.
This initiative aims to encourage EU-based SMEs to engage in cross-border trade within the single market by eliminating the need for immediate VAT registration. The goal is to reduce administrative and compliance costs. However, the scheme will remain unavailable to non-EU businesses, which must still 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.
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