TITLE XIISPECIAL SCHEMES

CHAPTER 1Special scheme for small enterprises

Section 2Exemptions or graduated relief

Article 286

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.