European 2021 VAT registration and Intrastat threshold changes
- Jan 2, 2021 | Richard Asquith
- Bulgaria – Intrastat arrivals drops to BGN430,000 from BGN 470,000. Dispatches drops to BGN 270,000 from BGN 290,000
- The Finnish VAT registration threshold rises from €10,000 per annum to €15,000 per annum for resident taxpayers
- Lithuanian has raised its VAT registration threshold from €45,000 to €55,000 per annum
- Luxembourg has increased its VAT registration threshold to €35,000 from €30,000
- The Maltese VAT registration threshold rises from €30,000 to €35,000.
- Whilst the UK has left the EU VAT regime from 1 January 2021, UK Intrastat will apply on arrivals until 31 December 2021. It will continue for Northern Ireland businesses beyond this.
- The Albanian VAT registration threshold rises to ALL 10million from ALL 2million.
VP Global Indirect Tax
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.