European Commission Adopts Proposal for Council Decision on Increase in Latvian VAT Annual Turnover Threshold

The European Commission (EC) April 8 adopted Proposed Council Implementing Decision No. COM(2024) 152, authorizing Latvia to increase the annual turnover threshold, with regard to VAT exemptions for taxable persons, to 50,000 euros (US$54,274) from 40,000 euros (US$43,419), and repeal Implementing Decision (EU) 2017/2408. The decision would take effect the same date as its notification and apply until Dec. 31, 2024. [European Union, EU Legal Database, 04/08/24]

Reference: View Announcement. View Index. View Proposed Council Decision No. COM(2024) 152.