Category: Archive – 2013

The Commission
has published practical guidelines to prepare businesses for the new VAT rules
for telecoms and e-services, which will enter into force in 2015. The aim is to
help businesses to be fully prepared on time for the change-over, whereby VAT
will be charged where the customer is based, rather than where the seller is. A
One Stop Shop will enable telecoms, broadcasting and e-services businesses
comply with all of their VAT obligations in all Member States from their
country of registration.

The Guidelines can be
found:

http://ec.europa.eu/taxation_customs/resources/documents/taxation/vat/how_vat_works/telecom/one-stop-shop-guidelines_en.pdf

The
standard VAT return – which will replace national VAT returns – will ensure
that businesses are asked for the same basic information, within the same
deadlines, across the EU.

Every
year, 150 million VAT returns are submitted by EU taxpayers to national tax
administrations. Currently, the information requested, the format of national
forms and the reporting deadlines vary considerably from one Member State to
the next.

This
makes VAT returns for cross-border businesses a complex, costly and cumbersome
procedure.

Businesses
operating in more than one Member State have also complained that it is
difficult to remain VAT compliant, due to the intricacy of the process.

This
proposal is also an important contribution to creating a more efficient and
more fraud-proof VAT system, as set out in the Commission's Strategy for VAT
reform. VAT accounts for around 21% of Member States revenues, and yet around
€193 billion went uncollected in 2011. By creating an easier system for both
taxpayers and administrations to work with, the standard VAT return can improve
tax compliance and reduce the VAT Gap. As such, today's proposal could make an
important contribution to fiscal consolidation across the EU by increasing
income to the public purse.

The objective
of this consultation is to gather views in particular on the extent of the
problem of labelling of leather products and the relevance and impacts of
proposed options.

Objective of the consultation

The
problem may arise not only from products that are fraudulently labelled as
leather or are counterfeit but also from products that are labelled with the
term ‘leather' (e.g. ‘eco-leather', ‘synthetic leather') and may induce the
consumer to think that they are of animal origin. Misleading and fraudulent
labelling are not only detrimental for consumers but also for businesses.

The
consultation covers all leather products (leather being a material of animal
origin) and products which have the aspect of leather but are made of other
materials. Since the labelling of leather shoes is already regulated by Directive
94/11/EC (Footwear Directive), shoes are excluded from the scope of this
consultation.

This
consultation will feed into an on-going impact assessment procedure, with a
view of a possible proposal of the Commission on an authenticity leather
labelling system at EU level.

In order
to prepare your answers, a printable pdf-version of the survey can also be
downloaded using the link below.

http://ec.europa.eu/eusurvey/runner/74d5e248-a4c3-7032-5c09-42e5fd784749?surveylanguage=EN

Once completed,
it can be sent at:

"Participating
in International Tenders" – Date: 21 November 2013  – Venue: Smart City, Malta – This
aims to provide more information to local SMEs on what it entails to be active
on the international market through the submission of tenders.  

International and national expert speakers
will provide an overview of the legislative framework of EU procurement rules,
together with tips and best practices that should be taken note of prior to
submitting a bid.

"The
Power of Being Small"

Date: 22 November 2013  

Gozo [venue to be confirmed]

This
conference that will not only address today's challenging realities faced by
micro and small business entities but will also present the opportunities that
can still be exploited by such entrepreneurs. 
Various tools, like creative thinking techniques and cooperation
databases, together with other EU Funding Programmes, at the disposal of these
businesses, will be outlined and discussed by expert speakers.

"Managing
IPR for your business in China"

Date: 28 November 2013   l    
Venue: Malta Enterprise offices, Pieta'

This half-day event is being held for those enterprises that are
interested in carrying out business with Chinese SMEs.  Representatives from the China IPR SME
Helpdesk and the EU SME Centre in China shall be delivering presentations.
These two entities are both involved in helping SMEs facilitate their access to
the Chinese market by offering professional information and confidential advice
through their vast portfolio of services. 
Presentation topics will include:

 To register for these events or for more details kindly send an email to
:

Ref: ‘ EU Directive 98/70/EC (as amended by Directive 2003/17/EC and
Directive 2009/30/EC) li mponiet obbligu fuq l-iStati Membri sabiex jiprojbixxu
illi jigi ntrodott fis-suq jew jinbiegh fuel b'ammont ta' sulphur eccessiv' .

Meta din
id-direttiva giet introdotta Malta permezz tal-L.S. 423.29 ghal xi raguni jew
ohra nbidel is-sens u l-ispirtu tad-Direttiva u gie ntrodott obbligu fuq
l-utent flok fuq min qed jimporta id-diesel. Dan gara billi flok gie replikat
l-obbligu fid-Direttiva li jkun hemm projbizzjoni fuq min ipoggi d-diesel
fis-suq li jaccerta li l-livell ta' sulphur fid-diesel ma jaqbizx certu livell,
il-L.S. timponi obbligu fuq kulhadd li ma jsirx uzu ta' diesel ta' kwalita
nferjuri (u cioe b'livell ta' sulphur eccessiv.) Fil-wat li d-Direttiva tghid
"Member States shall ensure that diesel fuel may be placed on the market
in their territory only if it complies with the specifications set out in Annex
1" (Article 4) il-L.S. tghid, "Subject to the provisions of
subregulation (2), diesel fuel may be used, sold, offered for sale, or
otherwise marketed only if it complies with the specifications set out in the
Second Schedule" (Regulation 5(1)).

Il-ligi
Maltija, interpretata b'mod restrittiv kif qed taghmel l-MRA, qed tohloq
obbligu tassattiv fuq l-utent li ma juzax diesel li ma jkunx ta' livell
accettabbli. L-assurdita, bir-rispett kollu, ta' dan l-obbligu hija li utent
qatt m'hu ser ikun jaf jekk id-diesel fornit lilu huwa ta' livell accettabbli
jew le. Utent sempliciment imur sal-pompa u jimla l-vettura tieghu bid-diesel.
Semmai, il-verifiki u l-accertazzjoni trid issir f'mument aktar kmieni minn dak
biex l-utent ikun mohhu mistrieh li d-diesel fornit lilu huwa skont il-ligi.

Biex
tkompli taggrava s-sitwazzjoni, jekk utent jinstab li huwa qed juza diesel li
m'huwiex tal-livell accettabbli, huwa jkun hati ta' reat kriminali b'penali
f'forma ta' multa ta' bejn Euro 10,000 u Euro 69,800 u/jew prigunerija ta'
terminu sa massimu ta' 18-il xahar.

Il-GRTU
ghandha f'idejha kaz ta' membru taghha li gie mressaq il-Qorti Kriminali fuq
akkuza ta' din in-natura, u cioe talli uza diesel b'livell ta' sulphur
eccessiv, u dan ser jidher quddiem l-Qorti Kriminali fil-granet li gejjien.

Ghal dan
l-ghan l-GRTU tablet l-intervent tal-Onorevoli Konrad Mizzi  bil-ghan li tinstab soluzzjoni qabel ma jigu
rapurtati kazijiet ohra.

Aktar kmieni
din l-Gimgha l-GRTU iltaqet mas-sidien tal-hwienet gewwa High Street wara xi
tibdil fi Traffic Management. Wara li semghet l-proposti tas-sidien sabiex
jittaffa l-impatt li din l-bidla ghamlet, l-GRTU iltaqghet mas-Sindku sabiex
jintlahaq  l-ahjar kompromess bejn
l-partijiet kollha kkoncernati.

Il-Kunsill bhal
dejjem sema u qabel ma dak li l-GRTU ipproponiet ghan nom tas-sidien. Ser issir
talba formali mill-Kunsill lil Transport Malta fuq dak maqbul u miftiehem fejn
is-sidien jkunu moqdijin mill-ahjar possibbli.

Il-GRTU tiehu
l-opportunita' fejn tirringrazzja lis-Sindku ta' tas-Sliema u lil Transport
Malta ghal kooperazzjoni shiha.

This week GRTU's EU Desk and Europe
Direct Valletta held an information session on Access to Finance with special
focus of the BOV JEREMIE Scheme with the full collaboration of Bank of Valletta
and the European Commission representation in Malta.

Access to Finance is very
important for enterprises especially SMEs that tend to be more limited on cash
flow. GRTU was very pleased to see the JEREMIE scheme that had been very
successful in the past years and has helped around 540 enterprises invest in
their business extended.

The JEREMIE scheme supports
SMEs including micro enterprises and start-ups, though a financial facility
that is easily accessible and the provision of credit risk protection. The
scheme is in the form of a loan offered at advantageous interest rates and
collateral requirements.

What are the parameters of the
JEREMIE Scheme?

–    Eligible SMEs: Micro, Small or Medium sized as per EU definition

–    Excluded Industries: Industries related to Fishing, Agriculture,
Construction, Real Estate, Transport

–    Availability period: 36 months

–    Type of facility: New Loans (overdrafts are not eligible)

–    Purpose of Loan: Capital Expenditure (Investments which enhance
the company's value)

–    Repayment structure: Amortising or Bullet Type

–    Maturity period: Minimum 1 year/ Maximum 10 years

–    Default definition: In line with Basel II – 90 days in arrears
means default

–    Minimum loan amount is of €5K

The loan may be utilized for
various purposes amongst which:

–    Setting up of Business Premises including new catering establishments/
offices/ retail outlets

–    Purchase of tangible assets like machinery, computer hardware and
other equipment

–    Investment in Health Equipment

–    Purchase of transport (passenger) vehicles

–     Purchase of energy efficient equipment

–     Purchase of intangible assets like' acquisition of pharmacy
licence' which is capitalized in SME's Balance Sheet

Under JEREMIE start-ups are
defined as those SMEs which have carried out their main business for a maximum
period of 24 months.

6PM gave a presentation on
their experience with JEREMIE. The CEO explained how they had developed a new
innovative online product called Quick and the JEREMIE funds were utilized to
engage developers that would execute the tailor made demands of clients through
the tools offered by Quick. 6PM's Quick tools are developed to help clients
achieve more with less. Built on applied ‘Common Sense' principles that form
the foundation of the 6PM Agile Delivery Framework, these products are designed
to provide clients with easy to use tools that will help them save both time
and money.

As of 2014 other very
interesting schemes and funds will be made available under the umbrella of
Access to Finance, these include COSME and Horizon 2020, which we will hear
more about as the new year approaches.

The meeting was opened by Mr
Martin Bugelli, Head of the European Commission Representation Office in Malta
and Mr Paul Abela President of the GRTU. Dr Joanna Drake, Director, Promotion
of SMEs competitiveness at the DG Enterprise and Industry of the European
Commission, who delivered a speech on what to expect next from the EU in
relation to facilitating access to finance for SMEs. The JEREMIE Scheme
presentation was delivered by Mr Peter Sant, Head, research and EU Affairs,
Business generation and EU Affairs Department at BOV. Closing remarks were
delivered by Mr Noel Scerri, Executive Head, Business generation and EU
Affairs, BOV.