Self-insured person with TELK

Self-insured person with TELK

 

Question:

Hello, in case I register as an individual, with Bulstat and make cosmetics and sell it, and have a registered trademark, and at the same time I have 75% of how the monthly and annual taxes look.

Thanks!

 

Answer:

Hello,

In order to practice business by registering as an individual with Bulstat, it is necessary to practice so-called "freelance professions".

This can happen if:

- the activity you will be doing is on the list of so-called "freelancers"

- You must have a document (diploma, certificate, etc.) that certifies that you have the necessary qualifications to practice this "freelance"

For the income earned during the year, you must make quarterly income tax contributions, calculated on a monthly basis, what is the basis for taxation.

The amount of the annual tax deducted is deducted from the contributions paid in advance during the year, and if the down payments were less than the difference, and if the down payments were more you would like to be refunded.

But since we have doubts that you will be able to register as a freelancer "production and trade", as an alternative we can advise you to register an ET, which in a sense is a business activity as an individual and in the same way you will be able to use this relief in determining your tax liability.

If you register EOOD for the activity you want, you will not be able to use the relief, because EOOD is a legal entity and the revenues you generate are taxed under the CITA.

 

We hope we have been helpful.

Greetings!