The draft law amending the VAT Law has been submitted to the Parliament, in which, among other points, the provision covering the registration threshold currently used could be modified.
Timeline
The Ministry of Finance proposed increasing the registration threshold from EUR 49,970 to EUR 75,000 starting from July 1, 2024.
Effect
Suppose the amendment is adopted through the Finance Law for 2024. In that case, the already registered taxpayers with a turnover of less than EUR 75,000 in the last 12 consecutive months will be permitted to de-register.
The government sees this measure as an excellent way to help businesses in economically challenging times.
Aleksandar Delic
1stopVAT Indirect Tax Researcher (Global Content)