|Update:||Compliance Alert - Increase of the VAT registration threshold|
The Maltese government has announced in the Budget Speech 2021, section 3.6, the increase of the mandatory VAT registration threshold for businesses from EUR 20.000 to EUR 30.000.
The European Commission has already confirmed that it will take the change into consideration.
Starting from 1 January 2024, the increased VAT registration threshold will enter into force.
This is a measure taken to help self-employed and small companies.