Increase in the VAT registration threshold
Countries are continually reviewing their fiscal structures for multiple reasons. This can be in response to the specific current economic climates, such as rising inflation, or for other commercial or cost-effective reasons.
Various countries are increasing the VAT threshold, reducing the scope of taxpayers obligated to register for VAT. We saw this in Bulgaria last month.
Sweden has become the latest country to increase the VAT registration, in line with the following from 1st July 2022:
- 30,000 SEK to 80,000 SEK
Increasing the VAT registration threshold will remove the need to charge VAT and submit regular tax returns for several taxpayers.
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