The new net income-based method for self-employed workers means everyone now has to pay tax, with some exempt based on their annual income. Now, they need to edit this amount before editing it. Tax AdministrationCorresponds to Personal Income Tax (IRPF).
Therefore, all self-employed individuals will be required to submit their Income Tax returns to the Treasury, regardless of the amount of income. Those who could not reach before People with an annual income of 1,000 Euros were exempt from this procedure.
This regulation also affects new entrepreneurs and, according to the Tax Office’s calculations, will affect approximately 200,000 taxpayers in the coming period. Your focus will no longer be solely on VAT assessments.
The current earnings system determines Social Security payments based on actual reported income, rather than a flat rate for Social Security. Taxpayers provide income report every three monthsThis is then used to determine the appropriate fee for your situation.
Source: Informacion
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