Measures designed to slash bureaucracy for micro-entreprises are set to be drastically diluted by EU countries after national governments blocked the proposals, fearing that they would make them less competitive as business locations.
The Hungarian EU Presidency is in the process of finalising a compromise on draft measures exempting micro-businesses from obligations to prepare annual accounts.
The initiative is part of a broader aim to cut red tape pushed by the EU's High Level Group of Independent Stakeholders on Administrative Burdens. But the proposals have been drastically watered down during discussions in the Council working party on company law.
To read the full, original article click on this link: EU countries slap red-tape back on micro-entities | EurActiv