SMEs are the backbone of the European economy and thus have a specific focus in EU policy. The EU's current SME policy places great emphasis on the reduction of compliance costs on businesses and their free access to markets. The Single Market access and business burdens are intricately linked...

The Capital Markets Union project (CMU) aims to strengthen the single market by deepening the integration of investment across the European Union. Improved access to finance is a key component of this project, in particular for start-ups, small- and medium-sized enterprises (SMEs), and young...

The special scheme for small enterprises ('SME scheme') allows small enterprises to sell goods and services to their customers without charging VAT (VAT exemption) and to get some simplifications regarding their compliance and invoicing obligations. This scheme is optional, so small enterprises...

From 1 January 2025, EU small businesses can use the VAT exemption in Member States where they are not established. They can do this through a single registration in the Member State of establishment, allowing them to fully benefit from the EU internal market.

In general, imports in the EU are charged with customs duties and VAT unless they are specifically exempt. VAT Directives and Customs Regulations provide for an exemption for the importation of consignments with a negligible value. The low value consignment relief for VAT (hereinafter 'LVCR')...

The European Commission has requested EY to perform an "Assessment of the application and impact of the VAT exemption for importation of small consignments". The European Commission seeks to evaluate to which extent the VAT exemption for importation of small commercial and private consignments...

The Customs programme supports the interconnection of customs across Europe, both electronically and on the ground. It strengthens the integrity of the Single Market where goods can circulate freely and protects the financial and economic interests of the Union and its Member States. Over €20...