Relief for the midmarket

On June 27, 2013, the Ger­man Bun­des­tag enac­ted a new re­gu­la­tion for com­mer­cial fine pro­ce­du­res which of­fe­red re­lief to me­dium-si­zed com­pa­nies. The law went into ef­fect af­ter its pro­mul­ga­tion in the Bun­des­ge­setz­blatt.

Among other things, this re­du­ces the mi­ni­mum fine for late dis­clo­sure by small or mi­cro-en­ter­pri­ses of an­nual fi­nan­cial state­ments for fis­cal years ending on or af­ter De­cem­ber 31, 2012. The mi­ni­mum fine up to now of EUR 2,500 is re­du­ced to EUR 500 for mi­cro-en­ter­pri­ses and to EUR 1,000 for small en­ter­pri­ses, as long as they make the dis­clo­sure be­fore the Fe­deral Of­fice of Justice ta­kes any fur­ther steps.

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