As you might know, the last European VAT reform was a nightmare for Startups that could have been avoided. Well, it is about to happen again!
The European Commission plans to introduce a VAT-free threshold for startups. When scaling across the EU, you’ll pay VAT only in the markets where you are above the threshold.
In order to succeed however, we need 28 Member States to agree on how high the threshold should be. If it falls too low, it defeats the point of promoting internationalisation of startups, if it goes too high Member States fear loosing out on VAT income.
The current thresholds vary a lot. For example Spain, Netherlands, Sweden have none, France, Italy and Ireland around 50.000 EUR or higher and the story goes on.
So need your help to push for an ambitious threshold!
It costs around 8.000 Euro to set up VAT compliance per year per country so we have to encourage our Ministers of Economy and the European Commission to aim high.
Here is a letter we want you to sign, raise your voice and let your government know that you’re watching them.
Leave your name on the doc and join the fight for a high VAT threshold for European Startups.
Click here to access the doc.
If you are still not convinced to join the petition then see more information here.
Chief Blogger/Curator @ DisruptCyprus.com
Chief Blogger @DisruptCyprus
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