Wednesday 14 December 2011
The European Parliament has voted to exempt millions of 'micro' businesses from complex EU accounting rules. These smallest firms of 10 employees or fewer will only have to comply with national reporting requirements which usually demand only basic information.
London Liberal Democrat MEP Sarah Ludford said:
"It's very important to cut red tape when possible to boost jobs especially in these difficult economic times. So I'm delighted to back this exemption of the smallest firms which rarely operate across borders from complicated accounting rules."