Tax News - August 2016

I. New Threshold For Tax-Free Purchases Of Goods Via Internet

Pursuant to the legislation in force, the VAT and other import duties are not due when the total value of all goods (also referred as "goods of a negligible value") in a non-commercial consignment is less than a pre-determined threshold set forth in the Decision of the Council of Ministers no. 919, dated 29.12.2014 "On the Implementing Provisions of the Law on Customs Code".

An amendment to the above decision, published in the Official Gazette no.145, dated 3.08.2016, determined that:

• Goods purchased via internet with a value lower than EUR 22 are now exempt from VAT and other customs duties on importation (the previous threshold was EUR 150).