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  • The General Taxation System
    If you didn’t file an application for appliance a special regime while registration, you will be registered with the General Taxation System automatically. This taxation regime is not always profitable, especially at the start stage of the business. Companies must maintain accounting records to the full extent and entrepreneurs must produce a complex journal of income and expenses and economic operations. You will have to pay all general taxes and to file accounts on them:

    * The Profit tax of 30% from the margin between incomes and expenses, or Individual entrepreneurs pay Individual Income Tax of 13%.

    * The Assets tax if a company possesses immovable properties.

    * The Value Added Tax is most often 18% of sold products or services and it decreases by the VAT you pay to your suppliers.

    Most often VAT is the main reason for choosing the General Taxation System or, to the contrary, for avoiding it. The Value Added Tax is calculated not the most trivially, you will have to maintain all invoices in good order and to file accounts to the tax authorities on a quarter-by-quarter basis. If you don’t deal with wholesale commerce and there are no big companies which work with the Value Added Tax among your customers, we advise you to pay your attention to the special regimes.
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