Business accounting in france to get simpler for some

WE EXPLAIN THE NEW INCOME THRESHOLDS THAT TRIGGER ACCOUNTING AND AUDITING OBLIGATIONS Business accounting should become easier from this month, thanks to changes made by the European

Commission. At the moment, accounting obligations depend on the size of the business, with firms split into micro, small, medium and large, depending on their sales figures. By raising

thresholds, it is hoped that overall administration will be reduced. READ MORE: EXPLAINER: WHO PAYS FRANCE’S CFE BUSINESS TAX AND WHAT EXEMPTIONS? NEW, HIGHER THRESHOLDS TO DEFINE BUSINESS

SIZE Large and medium businesses will now be defined by sales of €50million a year, instead of €40million, and total assets of €25million, as opposed to €20million. Small and micro

businesses, meanwhile, will have sales of €15million, instead of €12million, and total assets of €7.5millon, instead of €6million. AUDITING THRESHOLDS ALSO INCREASE The main accounting

section affected by the change is the Corporate Sustainable Reporting Directive (CSRD). A requirement for firms to appoint an auditor will now apply only to those with €10million sales and

€5million assets, instead of the previous €8million sales and €4million assets. RELATED ARTICLES WHAT IS AVERAGE SALARY IN FRANCE AND THE DIFFERENCE BETWEEN GENDERS? NEW WEBSITE OFFERS FREE

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