The End of the VAT exemption for goods up to €22 – No Transitional Period
22 June 2021
As from 1st July 2021, the European Union will introduce new VAT e-commerce rules to...
At the UEAPME CONFERENCE hosted by ACCA (The Association of Chartered Certified Accountants), GRTU Director General Vincent Farrugia made a strong appeal to the European Commission Vice President Gunter Verheugen who is responsible for SME's to accept UEAPME member's strong pressure to make the provisions incorporated in the new Small Business Act (SBA) legally binding on all the national governments in the Member States.
"We worked hard 9 years ago to produce the Small Business Charter and progress has been registered in the delivery of projects in favour of Small Businesses but the total result is hardly felt. Bureaucracy continued to increase and today business owners spend more hours meeting administrative burdens and paying for government and EU induced costs than before. This in spite of all the Commission and politicians` rhetoric.
The reason is that the Charter was not legally binding and the EU employed poor enforcement procedures on Member States to have all provisions implemented and adhered to. Without legally binding provisions the Small Business Act becomes toothless" Mr Jigi Plecity replied after Vice-President Verheugen said that though not legally enforceable the Act will be strongly monitored from Brussels and will be very hard for Member States to escape from implementation of the conditions of the Act especially since Member State governments welcomed the SBA.
He confirmed that the Final draft of the SBA is now ready and the Commission expects approval by July 25th of this year.
Vince Farrugia appealed to the COMMISSION to name the Member States who are objecting to the binding clause, so did individual national organisations like GRTU representing SME's can make pressure on their government to accept the binding clause.
UEAPME is the European Federation of National Organisations representing SME's. GRTU president Mr Paul Abela and Mr Vincent Farrugia are members of UEAPME Administrative Council.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).