A package of changes, referred to as SLIM VAT 3, is to be considered by the government in September. By introducing the new regulations, the Ministry of Finance wants to raise the small taxable person sales limit from 1 200 000 euro to 2 000 000 euro. As a result, more taxable persons would be able to report using the cash method and on a quarterly basis. Those are not, however, the only simplifications. Among others, the requirement to issue advance invoices would be lifted and proportional VAT simplified.
More details available in our Alert.