EU forces online SMEs to register for VAT from Jan 1st, 2015

EU forces online SMEs to register for VAT from Jan 1st, 2015

From January 1st all small business entrepreneurs who sell online across the EU will be forced to register for VAT. The new regulations were designed to take more VAT from online giants such as Amazon but will now load new regulations and burdens onto small businesses.Online microbusinesses which sell anything to EU customers will be forced to register for VAT even if their turnover is under the £81,000 threshold. A spokesman for the UK Permanent Representation to the EU admitted today: "The UK argued strongly for cross-border threshold so that the smallest businesses would be outside the system, there was no support from other Member States or the Commission."

Thursday, 11 December 2014 Written by: Margot Parker Posted in: Press releases, 2014, Newsroom, December, Internal Market and Consumer Protection, Margot Parker