Updated : 12/06/2014
Your income from independent activities is calculated separately for each income source and taxed at a flat rate of 16%.
The annual income is calculated on the basis of the data from the simple entry accounting system, by using expenses flat rates or income brackets for the self-employed, as the case may be.
Within 15 days of setting up your activity, you should submit a statement on the estimated income/ income brackets for the self-employed to the relevant tax authority.
You must file a tax return for each accounting year, by 25th May of the following year.
During each accounting year, you will have to pay an advanced quarterly payment. The 4 equal amounts are to be paid by the 25th of the last month in each quarter. For certain earnings, the advanced payment is made by withholding of tax.
The tax authority will establish the amount of the annual tax to be paid on the basis of your earned income statement and will issue the notice of assessment. If the notice of assessment specifies a difference to be paid, you should pay it within 60 days of receiving the notice of assessment.
Check also what your EU rights are.
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