Division 1 Sixth Council Directive 77/388/EEC of 17 May 1977 on the harmonisation of the laws of the Member States relating to turnover taxes — Common system of value added tax: uniform basis of assessment.

Article 24 bis is replaced by the following:

‘Article 24a

In implementing Article 24(2) to (6), the following Member States may grant an exemption from value added tax to taxable persons whose annual turnover is less than the equivalent in national currency at the conversion rate on the date of their accession:

• in the Czech Republic: EUR 35 000;

• in Estonia: EUR 16 000;

• in Cyprus: EUR 15 600;

• in Latvia: EUR 17 200;

• in Lithuania: EUR 29 000;

• in Hungary: EUR 35 000;

• in Malta: EUR 37 000 when the economic activity consists principally in the supply of goods, EUR 24 300 when the economic activity consists principally in the supply of services with a low value added (high inputs), and EUR 14 600 in other cases, namely service providers with a high value added (low inputs);

• in Poland: EUR 10 000;

• in Slovenia: EUR 25 000;

• in Slovakia: EUR 35 000.’

Article 28m is replaced by the following:

‘Rate of conversion

Article 28m

To determine the equivalents in their national currencies of amounts expressed in ecus in this Title Member States shall use the rate of exchange applicable on 16 December 1991.* However, the Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland, Slovenia and Slovakia shall use the rate of exchange applicable on the date of their accession.’.

Article 17(3)(b), in the version set out in Article 28f(1)^f1, is replaced by the following:

1. (b)

   ‘transactions which are exempt pursuant to Article 14(1)(g) and (i), 15, 16(1) (B), (C), (D) or (E) or (2) or 28c (A) and (C).’.