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Turnover threshold for VAT registration to rise to EUR 40,000 in Estonia
BC, Tallinn, 28.04.2016.
Print version
Print versionThe Estonian government has decided to raise to 40,000 euros the annual turnover threshold beyond which businesses are obliged to register as value added tax (VAT) payers, informs LETA/BNS.
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"We're simplifying doing business – in the future small businesses will not have to register as VAT payers if their turnover is below 40,000 euros," Finance Minister Sven Sester said.
The turnover threshold was 16,000 euros until now.
The matter was under discussion in the government in January and at that time a preliminary agreement to raise the threshold to 25,000 euros was reached.
For raising the threshold the European Commission's permission is needed, which the Finance Ministry says will probably be granted. Of the EU member states that have imposed a similar threshold it is the lowest in Denmark, 6,696 euros, Greece, 10,000 euros, and Portugal, 12,500 euros. It is the highest in the UK, 114,397 euros, and Italy, 65,000 euros.
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