A proposal for a Council Implementing Decision to authorize Italy's continued derogation from Article 285 of the VAT Directive (2006/112/EC) regarding its VAT exemption threshold for small businesses was published on 31 March 2020. The decision would authorize Italy to continue to exempt from VAT taxable persons whose annual turnover is no higher than EUR 65,000 and to increase that threshold in order to maintain the value of the exemption in real terms.
Approval for Italy's current deroga…