The phased start dates and the de-scoping option

What is the requirement, in plain English?

The phase-in provision is rewritten. For financial years that begin between 1 January 2024 and 31 December 2026, point (a) catches undertakings above EUR 450 000 000 net turnover and above 1 000 employees on average, and point (b) catches issuers above the same two tests; point (c) is removed. A new subparagraph lets a Member State exempt undertakings which do not exceed the two tests for the financial years that begin between 1 January 2025 and 31 December 2026.

What evidence does a regulator or an auditor ask for?

The scope note naming the Member State, the national measure that uses the exemption and its status, for the financial years in the window.

Which dates matter?

• Transposition of Articles 1, 2 and 3: 19 March 2027
• Financial years the de-scoping option covers: between 1 January 2025 and 31 December 2026

The transposition deadline for Articles 1 to 3 of the amending directive is 19 March 2027 (Article 5). For Article 4 it is 26 July 2028, applied from 26 July 2029.

What does it cross-reference?

• 2013/34/EU Article 1(3)
• Article 3(2) of this amending Directive

How do I check a draft against this provision?

Paste your draft into the reading. The reading returns, per provision, whether a phrase specific to this requirement appears in your own words, quoted, with the article cited here. Where a line reaches nothing it reads no mapping identified.

Not legal advice; does not certify. Every field on this page carries its own source pointer, and the record is replayed by the pages, the check and the export from one reviewed record.