Comparisons

The tasks of a freelancer or a trader also include the fulfillment of tax obligations. Depending on turnover and profit limits, the entrepreneur must keep his books monthly and prepare a balance sheet at the end of the year. Those who are not required by law to keep books determine their taxable profit by comparing operating income and operating expenses. The figures from the net income statement are included in the EÜR annex of the private tax return. This applies not only to resellers but also to small business owners and freelancers, who are classified as small business owners under VAT law. You can find out more about registering a business in our blog article on the topic of registering a reselling business.