Brussels, 03/08/2012 (Agence Europe) - As part of the programme launched in 2011 to make it easier for small businesses to find finance (see EUROPE 10511), the European Commission opened a consultation exercise on Friday 3 August that will run until 5 November 2012 to find practical examples of tax problems in the field of cross-border risk capital and to assess the impact of such problems in terms of additional costs to investors and small businesses in the European Union. As a result of the differences between the various tax systems in the 27 member states, risk capital funds may face double taxation and legal and administrative uncertainty for overseas investment, factors which may prevent a genuine European risk-capital market from developing, thus depriving innovative small businesses of funding. Companies, professional organisations, tax offices and individuals are invited to submit their comments and suggested solutions to these problems, ahead of the drafting of new legislation later in the year, if required. (FG/transl.fl)