Your best Choices With the Taxes

Companies that are just getting started in business, as well as those that are already established, can take advantage of the flat – rate regime, which is defined, as amended by Law no., as long as they meet certain requirements, the most important of which is an annual revenue volume. The advantage of this system is that it does not need the keeping of accounting records; instead, it is sufficient to just keep track of the invoices that have been issued and those that have been accepted with ยื่นประกันสังคมออนไลน์.

The Right Standpoint

From a fiscal standpoint, the flat-rate regime entitles you to a substitute income tax of 5 percent for the first five years of your business operation and until the completion of your 35th year of age, and then to a tax at regime of 15 percent, which is calculated on a taxable income that is determined by the total annual revenues multiplied by a variable profitability coefficient that is determined by the code that was used for the exercise of your business operation.

Individuals who carry out a commercial activity on a flat-rate basis may be eligible for a specific tax benefit under the tax code. A flat-rate business activity is defined as one that is carried out on a regular basis, as defined in article 1 of paragraph 77. The social security contributions owed to the Artisans and Merchants Management are reduced by 35% for such individuals who carry out a business activity on a regular basis (both the fixed contributions and those on income exceeding the minimum).

Unquestionably beneficial to all small businesses that are interested in establishing their operations without incurring an excessive tax burden as well as with fewer administrative and tax burdens: sector studies are not required, you are not subject to IRAP, and you are not even required to register for VAT.

Professionals are individuals who work in the field

Two alternative accounting systems are available for use in all self-employed activities, including the practice of arts or professions: the flat-rate system and the simplified accounting system. The flat-rate system is designed to be used in all self-employed activities, including the practice of arts or professions. The flat-rate system is the most often utilized of the several types of systems.

Conclusion

A more accurate way of putting it is that professionals operate under a more straightforward accounting framework. In contrast, if a taxpayer satisfies the requirements for using the flat-rate regime, he or she has the right to use the flat-rate regime in an indefinite number of instances for as long as the requirements continue to be met.

Related Articles