Luxembourg Lower House Considers Bill to Amend Law on Special VAT Regime for Small Businesses

The Luxembourgish Parliament (Chambre des Deputes) July 4 accepted for consideration Bill No. 8406, to amend the VAT law on the special regime for small businesses. The bill includes measures to: 1) clarify the special VAT regime for small businesses, including an increase in the optional VAT exemption annual turnover threshold for small businesses to 50,000 euros (US$54,077) from 35,000 euros (US$37,853); 2) provide an optional VAT exemption for taxable persons in other EU countries when their total annual EU turnover doesn’t exceed 100,000 euros (US$108,172) and their annual domestic turnover doesn’t exceed 50,000 euros; and 3) introduce rules for ...