April 23rd. 2010
Brussels supports the new Act to the retail trade which was adopted on December 22, 2009. After the controversy surrounding this legislation among certain sectors, the chief European Internal Market, Michel Barnier, said last week at the newspaper El Economista that it is perfectly reasonable state regulation contrary to what some groups say. From the Directorate General Internal Market of the EU executive acknowledged that, under the Spanish Constitution, the power to regulate the retail part of the autonomous communities.
On the other hand, the Spanish Council of Ministers adopted on 9 April, a Decree Law with 31 anti-crisis measures to boost economic recovery, including emphasizing the empowerment of the Official Credit Institute (ICO) in order to lend money to SMEs assuming 100% of the risk. Before 15 June, the ICO will be chosen by competition, a bank or a box as marketer and may grant credit market conditions for a maximum of 200,000 euros per customer. It was also announced setting up the application of a reduced VAT rate for any work of renovation and home repair done to the end of 2012 and SMEs are also reduced within one year to six months to recover VAT invoices unpaid. In the field of reducing administrative burdens, the Law Decree exempts SMEs from having to justify the operations linked to 100,000 euros, and requires the Government to submit within three months, a decree to "streamline" operations Documentation for other businesses and operations.
