alt Hacker NewsYes please! I tripped over this recently. It's a bigger deal than it might seem.
You'd be surprised at some of the weird things that can happen in the current systems in the EU if you try to do business across borders.
Like: your company suddenly automatically becoming deregistered, or you might get a sudden huge tax bill, or you might even inadvertently get charged with fraud.
Hasn't happened so far knock on wood, but it's a lot more work to stay on the light side than you'd really like.
This is all because the national systems still sort of assume that you'll live and work and stay inside one EU country. You end up constantly fitting square administrative pegs into regulatory round holes.
A lot of the EU's promise is actually theoretical without a proper pan european legal entity.
Replies
> This is all because the national systems still sort of assume that you'll live and work and stay inside one EU country.
It’s more because taxes and the judiciary are bound to countries.
This doesnt fix the issue with taxation right? You would stull have to figure out where to pay taxes if you have customers from different countries.
> A lot of the EU's promise is actually theoretical without a proper pan european legal entity.
Yeah, I feel a bit the same way.
Just to make it clear to random passerby's, this is exactly what the proposed EU-INC is for, to create this "pan european legal entity", in case it wasn't clear from the context. I initially asked myself "But that's exactly what it is..." so maybe others end up thinking the same :)