The EU VAT SME (Small and Medium Enterprise) scheme which came into effect in January 2025 aims to reduce the administrative burden and compliance cost on SMEs, and to encourage cross-border trade. The scheme has both a cross border and domestic element and Revenue has recently published new guidance on the domestic layer of this scheme.
The guidance explains how to access the domestic VAT scheme, outlines the relevant VAT registration turnover thresholds in Ireland, and provides instructions on calculating turnover to determine eligibility.
Further details on the EU VAT SME scheme are available in earlier news items on 22 April 2025 and 24 March 2025.
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