Choosing the tax scheme for your company determines how much tax you will pay and the formalities and documents you will have to comply with according to the law.
The choice of the tax system is closely related to the choice of the company’s business entity. You must take into account that depending on the selected company form, you can choose between only some of the tax schemes available.
In the dedicated pages, you will see that an entrepreneur can start a business on his or her own or together with other people. Therefore, you will discover opportunities to work on your own by setting up a sole proprietorship, an informal partnership, a non-stock company, or a joint-stock company. You can also decide to establish a cooperative.
For each of these legal forms we shall explain the features, the advantages and the disadvantages of the relevant tax and accounting schemes