Fabian Demicoli

Abolishing requirements for Micro Enterprises

COM(2009) 83 – Proposal for a Directive and amendment on the annual accounts as regards micro-entities (less than 10 employees)

The Commission is proposing an amendment to Directive on the annual accounts of Micro Enterprises so as to allow Member States to completely abolish financial reporting obligations.

The Commission suggests establishing an option for Member States of relieving them from the requirement to draw up annual accounts The objective of this proposal is to simplify the business environment and particularly the financial reporting requirements in order to enhance their competitiveness and release their growth potential.

Source: MEUSAC Competitiveness and Consumer Affairs Committee

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