What should a self-employed individual know about hiring employees? When a small self-employed business starts gaining momentum, with an increasing number of clients and work, the need for additional help - employees - often arises. Can a self-employed person hire employees? What needs to be considered? Here are some tips, based on frequently asked questions.
Annual Income Declaration Submitting the annual income declaration (GID) is mandatory for persons engaged in economic activity and the self-employed. Self-employed individuals must complete section D3 in the EDS system when submitting their GID.
A self-employed temporarily has no income – how to register that? Unlike those hired under standard employment contracts, self-employed people cannot always rely on a regular and consistent income each month. There may be periods where you do not receive any income for a month, a quarter, or even an entire year – particularly if you’ve only recently started your business activity, or your services are only in demand during certain seasons. We’ve summarised the key points to keep in mind in such situations.
Frequently asked questions about receipts for the self-employed A receipt is one of the most commonly used documents by self-employed individuals to confirm that an expense is related to their business activity. It’s no surprise that we regularly receive many questions on this topic. That’s why we’ve prepared a short overview to help you make sure you're storing and registering your receipts correctly. Is it mandatory to include details on the receipt? That depends on the transaction amount…
Annual Income Declaration: What Should You Know? Starting from March 1, taxpayers can submit their annual income declaration. Private individuals can do this voluntarily, but for those engaged in economic activity – the self-employed – submitting the declaration is mandatory in order to calculate and pay personal income tax. As March 1 approaches, we’ve compiled some of the most frequently asked questions that PATS.LV users have previously had about completing the declaration…
28. October, 2024
