Business and Professional Income: choice of accounting organized by 31 March<\/p>\n
The determination of business and professional income is made based on the application of the rules under the simplified scheme or on the basis of accounting.<\/p>\n
They are covered by the simplified scheme, the taxable persons who, in the previous tax year, have not exceeded an annual gross amount of 200,000 euros this category.<\/p>\n
However, taxpayers may opt for the determination of income on the basis of accounting. This option, by 2014, should be exercised in own activity early statement or until the end of March of the year who wanted to change the method of determining income by filing a change statement. Once exercised this option, it would be valid for a period of three years, renewable for equal periods, unless there is timely reporting the change of regime.<\/p>\n
From January 1, 2015, changes have been made to the simplified scheme namely the repeal of the minimum term of stay in this regime and maintenance in the chosen regime until it provide a new option.
\nThus, the simplified regime continues to apply by default, that is, if the conditions laid down in the Income Tax Code and not opting for the taxpayer of proper accounting regime will apply this system of determining taxable income.<\/p>\n
However, the following year the taxpayer may reassess remains this scheme or opt for accounting. If you want to carry out such an option should deliver change statement by the end of March this year, allowing in practice the possibility of an annual review of the determination of the taxable income regime.<\/p>\n