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COUNCIL DIRECTIVE (EU) 2020/285 of 18 February 2020 amending Directive 2006/112/EC on the common system of value added tax as regards the special scheme for small enterprises and Regulation (EU) No 904/2010 as regards the administrative cooperation and exchange of information for the purpose of monitoring the correct application of the special scheme for small enterprises · European Union

The annual turnover serving as a reference for applying the exemption provided for in Article 284 shall consist of the following amounts, exclusive of VAT: the value of supplies of goods and services, in so far as they would be taxed were they supplied by a non-exempt taxable person; the value of transactions which are exempt, with deductibility of the VAT paid at the preceding stage, pursuant to Article 98(2) or Article 105a; the value of transactions which are exempt pursuant to Articles 146 to 149 and Articles 151, 152 and 153; the value of transactions which are exempt pursuant to Article 138 where the exemption provided for in that Article applies; the value of real estate transactions, financial transactions as referred to in Article 135(1), points (b) to (g), and insurance and reinsurance services, unless those transactions are ancillary transactions.

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Source: EUR-Lex CELLAR · retrieved 2026-07-31 · Text as consolidated on 2025-01-01; changes after this date are not shown.