France introduces “choc de simplification” to cut down on red tape for SME’s

September 6, 2013  |  Digitalisation, Europe

According to the European Commission, a 25 percent reduction in administrative costs for businesses could see the country’s GDP rise by 0.8 percent in the short term and 1.4 percent in the long term. This should have help the French finance Minister Pierre Moscovici when he announced announced a series of measures that are aimedto simplify live for SME’s.

One of the measures is to “facilitate relationships between business and government” by the development of online billing and high security systems for online payments.

Other measures are:

  • to limit the number of documents that have to be submitted to authorities.
  • to scrap the requirement to file documents for the creation of commercial companies,
  • reduce the cost of registering a company by 50 percent,
  • to simplify tax credits
  • that the smallest companies will be allowed to present “simplified balance sheets”.

 


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