Malta published the Value Added Tax (Amendment) Act 2024 in the Official Gazette, on 17 December 2024, introducing the EU small business scheme for cross-border supplies, aligning with Council Directive (EU) 2020/285 of 18 February 2020.
The Act allows taxable persons from other EU Member States to apply the VAT registration exemption for small businesses in Malta, provided their annual turnover in Malta does not exceed Malta’s exemption threshold and their total EU turnover does not exceed EUR 100,000.
Similarly, small businesses in Malta can avail themselves of the VAT registration exemption in other EU Member States if their annual turnover in those States does not exceed the respective exemption thresholds and their total EU turnover does not exceed EUR 100,000.
The new provisions will come into force on 1 January 2025.
