Willie O'Dea (Limerick City, Fianna Fail) | Oireachtas source

The Companies (Accounting) Bill 2016 was published last August. It provides for a simplified system of accounting for small and medium-sized enterprises, SMEs, that will save money and time and minimise bureaucracy. This legislation arises from a European directive that was adopted three years ago and our competitors already have put in place similar legislation with the result that Irish SMEs have been operating at a competitive disadvantage for the past two years. There is a general inquiry to know when exactly the legislation will be put in place.

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