Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-13-Speech-2-344-000"
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"en.20111213.26.2-344-000"2
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"In today’s part-session, Mr Lehne’s report was put to the vote. Micro-entities are, even to this day, subject to the same rules that apply to larger companies. The complex rules on financial reporting to which they are subject are not proportional to their specific accounting needs and carry pointless financial burdens.
Therefore, in 2009, the Commission presented a legislative proposal to try and exempt this type of business from accounting obligations. According to the assessments made by the Commission, the potential savings brought by the proposal are an estimated EUR 6.3 billion. After difficult and lengthy negotiations in the Council, a compromise was reached which – though retaining some accounting obligations – allows businesses that meet the following criteria to be exempt from financial reporting obligations: a) balance-sheet total of no more than EUR 350 000; b) net turnover of no more than EUR 700 000; c) no more than 10 employees."@en1
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