FAQs
tax and accountancy
Yes each company is obliged to run full accountancy even if there was inactive period for entire financial year.
Company should submit financial statements to registry court within 14 days after its approval by general shareholders meeting. General shareholders meeting should take place within 6 months after the end of financial year.
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rate of corporate income tax for small companies is 9 % (less than 1,2 Euro turnover per year. ) if annual turnover exceed more than 1,2 mln Euro tax rate is 19 %.
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general rate is 23% for goods and services,
8 % for food and beverages.
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if you are sole shareholder and only director in your company you have to pay social contribution each month even if you don’t take salary from company
cost of employment contain social contribution and personal income tax (paid directly by employer to state authorities). total cost of employment in simplified calculation is 35% .
|
Type of contribution |
Total contribution rate (%) |
Employer (%) |
Employee (%) |
|---|---|---|---|
|
Old-age pension |
19.52 |
9.76 |
9,76 |
|
Disability |
8 |
6.50 |
1.50 |
|
Sickness, maternity |
2.45 |
– |
2.45 |
|
Accidents at work* |
0.40-3.60 |
0.40-3.60 |
– |
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