Malta Chamber of SMEs highlights the concerns and impact of Brexit on Maltese Businesses
27 January 2021
The way forward was also discussed Mr Paul Abela President of the Malta Chamber of...
EC proposals will not solve the problem
UEAPME issued last week a position
paper on a proposal by the European Commission to create a "Quick Reaction
Mechanism" (QRM) to combat VAT fraud. Although cross-border VAT fraud hits both
Member States' budgets and honest companies, the suggested QRM is not a
suitable tool for solving the obvious problems associated with this issue,
wrote UEAPME. In fact, this mechanism focuses exclusively on reacting to fraud,
which is not sufficient to control it. According to UEAPME, a proactive
approach is needed, including the fast and effective exchange of information
between Member States, more manpower and better technical equipment for the relevant
tax authorities. Moreover, the EC suggestion to authorise Member States to
introduce country-specific measures could make matters worse and lead to "fraud
wandering" across the EU. Against this background, UEAPME rejected the EC
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).