The Minister of Finances Gikas Hardouvelis has introduced an amendment to the multi-bill, according to which businesses and the self-employed with a gross income of up to 10,000 euros will be exempt from the VAT.
The exemption though is not automatic; taxpayers must declare their choice, which is in-power for one year, after which point the taxpayer will be able to change. Should the taxpayer (or business) exceed the 10,000-euro cap, then they will have to pay the VAT in the following year.
