Sale of paintings - company registration or ...?

Sale of paintings -

company registration or ...?  

 

Question:

Hello,

As a private person, can I sell a piece of art (painting) at an auction? Or privately or do I have to register a company?

Do you need something in the state and need licenses, VAT and more ...

Thanks in advance.

 

Answer:

Hello,

The most convenient form for performing an independent economic activity (trade in works of art) is to register as a freelancer in the Bulstat Register. Under this form of business organization, you earn 25% of your revenue and you earn 25% of the revenue and the remaining 75% of your earnings (out of which your contributions are deducted). % tax profit.

If you are working with a lower margin, then register your EOOD, then you will pay a 10% corporate tax, after deducting all documented costs (including the value of purchased pictures) from all your earnings.

Of course, if you do an occasional sale (without being an economic livelihood), everything described above is not necessary.

Whether you choose one of the ways of independent economic activity, any natural or legal person who has sold more than $ 50,000 for the past 12 months is required to register under the VAT Act.

We hope we have been useful.

Greetings.