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Taxpayers with a turnover volume of up to 12,500 euros in the previous year and the previous three enjoy VAT exemption, according to a PCP proposal approved this Tuesday during the OE2021 specialty vote.
The measure reinforces the scope of an amendment to the VAT Code made in the State Budgets for 2020 (OE2020), which increased the amount of VAT exemption for taxpayers of the simplified regime from 10,000 to 12,500 euros.
However, the rule provided for a transitional regime for the year 2020, establishing that those who opened activity until March 31, 2020 will maintain the exemption if they do not exceed 10,000 euros in turnover. For those who have opened activity after that date, the exemption is limited to 11,000 euros in turnover.
The PCP proposal, presented within the framework of the State Budgets for 2021 (OE2021) and approved on Tuesday night with the favorable vote of all parties, except for the PSD that abstained, provides that taxpayers who “have not achieved a turnover of more than 12,500 [euros] in the previous calendar year and the three previous calendar years “maintain the VAT exemption.
In this way, those who last year or this year, for example, exceed 10,000 or 11,000 euros do not lose the exemption.
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