Brussels, 08/07/2010 (Agence Europe) - Further to a request from Riga, Latvia, the European Commission presented a proposal on Monday 5 July aimed at allowing Latvia to raise the current threshold beyond which it can apply a simplified regime on those liable to pay VAT.
The VAT directive allows member states the possibility of applying special tax schemes to small businesses, and especially to exempt taxpayers whose annual turnover is below a certain threshold. With this exemption, a...