Italy European Council approves proposal authorizing increase of VAT exemption threshold

Share insight:

Italy has received approval from the European Council to raise its VAT exemption threshold from 65,000 euros to 85,000 euros, a move that is expected to benefit small businesses in the country. The approval will be in place until December 31, 2024, after which the European Union will evaluate the decision.

The increased threshold will provide significant relief to small businesses in Italy, as it allows them to generate up to 85,000 euros in revenue before being required to charge and pay VAT. This alleviates the administrative burden of VAT for smaller businesses, enabling them to concentrate on expanding their operations.

The European Commission anticipates that this decision will give a much-needed boost to small businesses in Italy, which have been struggling due to the economic fallout of the COVID-19 pandemic.

Disclaimer: Reproduced/Adapted with permission from Global VAT Compliance. 

Latest news

More Insights

Cookies are used on our site to help give you the best user experience possible and to provide a level of enhanced functionality. If you continue viewing the site without changing your settings, we will assume you are happy to receive all cookies. Your cookie settings can be changed at any time by using the guidelines in our cookie policy. You can also click on the information button for further details.