A taxable person shall not be able to benefit from the exemption during a period of one calendar year where the MS annual threshold was exceeded in the preceding calendar year. The MS of exemption may extend this period to two calendar years.
Where, during a calendar year, the MS annual threshold is exceeded by:
* not more than 10 %, a taxable person shall be able to continue to benefit from the exemption during that calendar year;
* more than 10 %, the exemption shall cease to apply as of that time.
Notwithstanding with the above-mentioned points, MS of exemption may set a ceiling of 25 % or allow the taxable person to continue to benefit from the exemption without any ceiling during the calendar year when the threshold is exceeded. However, the application of this ceiling or option may not result in exempting a taxable person whose turnover within the MS of the exemption exceeds EUR 100.000.
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vat4sme:specification_id | MCC.2910740 |