Small business corporations exempt from management reporting

MIL OSI Translation. Government of the Republic of France statements from English to French – Credits: © SkyLine – Fotolia.com

The law for a State in the service of a trust company exempts all commercial companies, in whatever form, from the obligation to draw up a management report if they meet the definition of small businesses (C. art L 232-1, amended IV, art 55, IV). This measure came into effect for the years ended August 11, 2018.

This measure is expected to benefit 1.3 million small businesses. These companies do not exceed, at the end of the year, 2 of the following 3 thresholds:

balance sheet total of 4 million euros net sales of 8 million euros average number of employees during the year: 50

Can not benefit listed companies, financial institutions (banks, finance companies, in particular), insurance and reinsurance companies, funds and institutions for supplementary occupational retirement, mutual or mutual societies, companies calling public generosity and those whose business is to manage equity securities or securities.

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