“Small animals make messes too,” goes the saying. With many small changes, the federal government wants to reduce bureaucratic effort by 420 million euros per year.
Tax advisors will be able to submit their invoices digitally in the future. This is one of 32 changes to a regulation to reduce bureaucracy that the federal cabinet decided on Wednesday, as government circles revealed. The regulations also provide for simplifications in the Foreign Trade Ordinance, among other things. With reference to the development of monetary values in the euro area, thresholds for reporting on capital and payment transactions are being raised, which subsequently reduces the reporting obligations for companies. It is also planned to reduce reporting requirements in commercial law.
Overall, the federal government assumes that the measures provided for in the regulation will reduce the bureaucratic effort for the economy by around 420 million euros per year. They are part of the package to reduce unnecessary bureaucracy that the cabinet agreed on in August 2023.
Source: Stern
