Post by ayesha98 on Dec 19, 2023 18:31:38 GMT 9.5
Not to mention you don’t pay into unemployment insurance so you can’t file for unemployment insurance if you have to close or lose your business. Deductible Expenses This tax system does not allow you to deduct any actual costs from your income. Another way to look at it is that you cannot claim reimbursement for any expenses. You may only claim professional fees under specifically outlined circumstances.
Income threshold Since this tax system allows for simplified accounting obligations, the French government has set an income threshold for these businesses that resell goods, photo retouching sell food or provide accommodation for euros, commercial and manual services for euros as well as with free movement. If you exceed this threshold for two consecutive years, you will be automatically transferred out of this system starting from the following month. engaged in commercial or craft activities then you will be subject to the actual tax regime.
If your business engages in discretionary activities you will be subject to a controlled declaration regime. In either case you will still be a sole proprietor unless you decide to change your legal status earlier. This tax regime is only temporary if your business is growing steadily. You have to update it over time. VAT thresholds This can be a double-edged sword for micro businesses Once you exceed a certain income you will need to withhold VAT from the state.
Income threshold Since this tax system allows for simplified accounting obligations, the French government has set an income threshold for these businesses that resell goods, photo retouching sell food or provide accommodation for euros, commercial and manual services for euros as well as with free movement. If you exceed this threshold for two consecutive years, you will be automatically transferred out of this system starting from the following month. engaged in commercial or craft activities then you will be subject to the actual tax regime.
If your business engages in discretionary activities you will be subject to a controlled declaration regime. In either case you will still be a sole proprietor unless you decide to change your legal status earlier. This tax regime is only temporary if your business is growing steadily. You have to update it over time. VAT thresholds This can be a double-edged sword for micro businesses Once you exceed a certain income you will need to withhold VAT from the state.