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The right to be a simplified tax payer and income tax obligations
The right to be a simplified tax payer and income tax obligations
According to the provisions of the Tax Code effective from January 1, 2019, persons providing services, other than those provided to individuals not registered as taxpayers with the tax authority (the general public), cannot be taxpayers of the simplified tax system. However, if services are provided not only to the general public but also to legal entities and individuals registered as taxpayers with the tax authority, the right to be a simplified tax payer is retained provided that the volume of transactions that must be formalized with electronic invoices during the quarter does not exceed 30% of the total volume of service transactions (excluding non-operating income).
If this activity is carried out as a taxpayer of income tax, income tax is calculated at a rate of 20% on the amount remaining after deducting expenses related to earning that income, and is paid to the state budget.
According to the provisions of the Tax Code effective from January 1, 2019, persons providing services, other than those provided to individuals not registered as taxpayers with the tax authority (the general public), cannot be taxpayers of the simplified tax system. However, if services are provided not only to the general public but also to legal entities and individuals registered as taxpayers with the tax authority, the right to be a simplified tax payer is retained provided that the volume of transactions that must be formalized with electronic invoices during the quarter does not exceed 30% of the total volume of service transactions (excluding non-operating income).
If this activity is carried out as a taxpayer of income tax, income tax is calculated at a rate of 20% on the amount remaining after deducting expenses related to earning that income, and is paid to the state budget.