July 18th, 2008 Comments off
Image via WikipediaSocietas Privata Europaea (SPE) is a proposed EU-wide company type designed specifically for small to medium sized companies to operate in EU member countries, which could be enacted as soon as 2009. This is a core part of the Small Business Act for Europe, which the European Commission unveiled at the end of June, based on ten guiding principles and proposing policy actions for both the Commission and Member States. Here are some of the headlines in what is being planned:
- An SPE formation should be effected within 7 days.
- A cap on obtaining business licences and permits of one month.
- Lower VAT for services supplied locally.
- SMEs can set up their company in the same form, no matter if they do business in their own Member State or in another.
- Cut the administrative burden by 25% by 2012.