VAT relief for SME’s

29. July 2020

Starting from 01.01.2021, the minimum limit for VAT registration will be the annual turnover of ALL 10 million (until 31.12.2020, the minimum limit will continue to be the annual turnover of ALL 2 million).

Taxpayers with annual turnover of less than ALL 10 million will have the right to choose to register for VAT (or continue to be registered for VAT) only if their annual turnover will exceed ALL 5 million.

The above will also apply to persons providing services through the exercise of freelance professions, for which the VAT registration limit is currently zero

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