Small businesses allowance - these legal requirements you should know

08-10  Source: Network gathering  Views:2 


Small businesses allowance - these legal requirements you should know

Small business owners should have a turnover, which is below the allowance.

Anyone who exercises a professional or commercial activity, it must first of all inform the competent local tax office. then find out your tax identification number and can then apply the small business regulation and identify any taxes on the invoices or have to pay the sales tax. Here it is important to know the allowance.

Small business owners can use the sales tax deduction sense

You can check if you are a small business within the meaning of the VAT law first. Read this §§ 19 ff. UStG. It depends on the amount of your revenue.

  • Note that entrepreneurs have to pay sales, income and business taxes. For this purpose, the sales must exceed the allowance. This is 2012 8.004 Euro in the year.
  • If the sales you make in a whole year, with 24,000 euros, so you must pay any business tax.
  • You can then decide whether to designate the control or without it and apply the small business regulation. The exemption limit then applies only to you when you put less than 17,500 in the current year and next year is less than 50,000 euros.
  • You need a tax identification number that identifies you on any account. In addition, you do not need a sales tax identification number, if your sales do not exceed the exemption limit.

Weigh the advantages and disadvantages as a small business

  • Anyone who uses the small business regulation and less translates as the allowance, paid no sales tax. You can only expand your activity a few years and make several contacts with clients.
  • They are then not entitled to a VAT return. Sorry, you can not deduct input.
  • Who does not want to apply the system, but will be taxed according to standard taxation, shall notify in writing to the competent local tax office. Note that you can make this decision only after five years back.
  • Who needs to make more money converts than the exemption limit and investments, can benefit from the deduction entitlement.
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