Counsel Magazine

Progress continues on proposals aimed at making life easier for small businesses:

• a new General Block Exemption Regulation on state aids for SMEs
• a statute for a European Private Company, which could be created and operate according to the same uniform principles in all
  Member States.
• Option for Member States to apply reduced VAT rates for locally supplied services,
• amendment to the directive on late payments is foreseen in 2009 to help to ensure that SMEs are paid within the 30 day time limit
  stipulated. See generally: http://ec.europa.eu/enterprise/entrepreneurship/sba_en.htm