"Members of the small association can withdraw the earned profit,
which is taxed at 15% personal income tax, in advance, but many of them apply a
preferential profit tax of 5%. At the same time, funds for personal needs are taxed
at 20% tax on citizens' income.
It is not necessary for associations to have an accountant if their
income does not reach 45 thousand EUR - above this limit, it is necessary to
register as a value added tax (VAT) payer.
In addition, social security "Sodra" contributions may not be paid in the
first year of operation, so only the mandatory health insurance remains to be paid.
These contributions are paid from funds paid out for personal needs.
Allowable deductions include all ordinary expenses actually incurred.
Members of small partnerships, whose number may not be more than 10, are not
liable for business obligations with their personal property, they can carry
out any activity.
There is also no mandatory minimum capital requirement."
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