SMALL BUSINESS ACT FOR EUROPE (& EUROPEAN PRIVATE COMPANY STATUTE)

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

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