Choosing the right form of taxation is one of the problems faced by entrepreneurs, and the question what is more advantageous, the lump sum taxation or tax book of incomes and expenditures, is very often asked.
The greatest advantages of flat-rate taxation include low tax rates and low level of complexity of accounting records. However, the lump sum taxation does not take into account the tax deductible expenses and the tax must be paid at the time of the loss. In the case of the tax book of incomes and expenditures, the tax is paid on the actual revenue. However, its rate is much higher than in the case of a lump sum taxation. A reliable tax book of incomes and expenditures should include all the company's expenses. The book must be kept in accordance with the applicable provisions of the Annex to the Regulation of the Minister of Finance of August 26, 2003.
The form of taxation selection should be adapted to the type of activity, its scale and the level of costs incurred. The specialists from Optimum International Tax Experts Tax Office will advise you on the most advantageous decision in this respect.