EC Internal Market and Services Commissioner
Michel Barnier has expressed strong support for the European
Parliament’s vote on cutting red tape for more than 5 million of
the smallest companies in Europe.

Barnier said reducing accounting requirements
will free up small companies’ resources to grow and invest in their

He also called on the member states to fully
adopt the new accounting rules and further reduce red tape as a
free way to support small businesses. 

‘The member states should ensure that the
benefits of simplification reach each and every micro-entity in the
EU, which make up around 75% of EU companies.’ Barnier said.

From next year member states will be able to
vote a ‘one-stop shop’, meaning that the smallest companies will
only have to send their accounts to the tax