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The European Commission (EC) launched on 18 March a public consultation on its planned EU e-invoicing reform, with potential legislative proposals to be expected for the end of 2026.
The objective of this initiative is to review the existing EU framework for e-invoicing, to increase harmonisation of e-invoicing rules across the EU, increase uniformity in the use of e-invoicing by EU businesses, including SMEs, and ensuring its consistent use in public procurement throughout the EU. The initiative also aims to enable businesses and other stakeholders to exploit the potential of e-invoicing, including in reusing of e-invoicing data to support automated reporting.
The deadline for responding to the consultation is 10 June. Accountancy Europe is currently gathering its experts’ input to prepare a potential response to the consultation.
As reported in the March SME update, the EC published its long-awaited 28th regime Regulation on 18 March. As part of the proposals, the EC also released a non-binding Recommendation setting out an EU definition for so-called innovative start-ups.
The Recommendation defines an innovative start-up as a an “innovative enterprise” which employs fewer than 100 persons and whose annual turnover or annual balance sheet total, or both, does not exceed EUR 10 million. Moreover, it must have been operating for less than 10 years following its registration.
Although EC Recommendations are legally non-binding, this innovative start-up definition can obtain legal weight if EU legislation narrows certain provisions down only for entities that fulfil that definition. For example, in the 28th regime Regulation the proposed simplified winding-up proceedings are only applicable for innovative start-ups as defined in the Recommendation. Similar measures for innovative start-ups only can be expected in future EU legislation as well.
On 19 March, EU Heads of Governments met in Brussels for their regular European Council meeting. Alongside urgent geopolitical discussions, leaders focused on competitiveness, simplification, and Single Market integration.
As is customary, the meeting concluded with Council Conclusions setting out priorities for the EC in the months ahead, including the following:
While high level, these Conclusions mark an ambitious shift from EU leaders to further integrate the EU markets and to ensure better quality legislation. Whether meaningful actions will follow the words remains to be seen.
The Council gave final stamp to a new EU law harmonising key aspects of insolvency rules across the EU. The law will make the EU business environment more attractive to cross-border investors by reducing the complexity of different national insolvency rules. This also follows the final approval of the same law by the European Parliament (EP) a few weeks before (see March SME update).
Following these final approvals, the insolvency law will be published in the EU Official Journal. Member states will then have two years and nine months to transpose the directive into national law.
The EU’s Intellectual Property Office (EUIPO) will organise on 23 April the next edition of its “Train the advisor” online training. It is aimed at SMEs’ advisors, who want to learn matters such as:
