HGB provides for the exemption of sole proprietors
The HGB provides for the exemption of sole proprietors from the
requirement of keeping books and preparing financial statements
if net income does not exceed € 60,000 and sales revenues do
not exceed € 600,000 on the balance sheet dates of two con-
secutive fiscal years.
For incorporated companies (Aktiengesellschaft – AG,
Kommanditgesellschaft auf Aktien – KGaA, Gesellschaftmit
beschränkter Haftung – GmbH, Societas Europaea– SE) and for
“KapCoGesellschaften”, which are treated in the same manner
as incorporated companies, the German Commercial Code
contains four reporting categories based on the respective com-
pany’s size: “micro entities” as well as small, medium and large
companies. Three criteria are used to determine the category to
which a company belongs: balance sheet total, sales revenue,
and number of employees.
A company is included
in a particular size class if it meets two out of the three criteria
on two successive balance sheet dates.
EU Forecast
euf:ba18f:100/nws-01