# Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax, Article 286

Extent: E+W+S+N.I.

Member States which, at 17 May 1977, exempted taxable persons whose annual turnover was equal to or higher than the equivalent in national currency of 5 000 European units of account at the conversion rate on that date, may raise that ceiling in order to maintain the value of the exemption in real terms.

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Source: https://www.legislation.gov.uk/eudr/2006/112/article/286 (the official version)
Page: https://openlegislation.uk/eu-directive-2006-112/article-286
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.