differentially taxed
September 15, 2010 | 20,00 EUR | answered by Matthias Wander
Hello
My question is as follows: I have a regular business with regular taxation. Now I would like to open a car dealership, which would be subject to differential taxation. Can both be run under one tax number? Do I need to report anything to the tax office? I think I would have to do two sets of bookkeeping then, right? Do I need to register with the trade office?
Thank you.
Dear Seeker,
Thank you for your inquiry, which I would like to answer based on the information provided and in the context of your business in an initial consultation.
First of all, you will need to expand your existing business or register a new one at the trade office. Subsequently, you will receive a questionnaire from the tax office, which you will need to fill out as usual.
A separate accounting system is recommended for the separate financial consideration of both businesses.
For tax purposes, despite having two businesses, you are ONE entrepreneur, meaning that only ONE consolidated VAT pre-registration or annual declaration will be submitted for both businesses.
In the income tax return, the results of both businesses will be explained. You will not receive an additional tax number.
I hope this gives you an initial overview.
Best regards,
Wander
Tax advisor
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