Annual Accounts of Micro-Entities (Directive)
The European Commission wants to reduce the administrative burdens of micro-entities. It is therefore proposing an amending Directive, which would enable Member States to exempt micro-entities from the obligation to draw up annual accounts.
The option to exempt micro-entities from the obligation to draw up annual accounts takes into account the particular conditions under which micro-entities operate. The proposed Directive is generally suitable to ease administrative burdens on micro-entities. However, it will lead to smaller saving as expected by the Commission. Distortions of competition possibly resulting from this new option are marginal and justifiable.