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.
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.
