Recital 17

(17) Since the objectives of this Regulation, namely, to improve, streamline and modernise reporting requirements, cannot be sufficiently achieved by the Member States as the reporting requirements concerned are laid down in Union law but can rather, by reason of legal certainty and the consistency of reporting, be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle of proportionality as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve those objectives.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-16 · Text as adopted (Official Journal); later amendments are not incorporated in this text.