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 Subject: taxes for an APS Startup... 24/03/11, 10:08 
sunone
Newbie
Joined: 05/02/10, 10:13
Posts: 1
Location: 
Hi everybody
I have the following question:
I have a startup company, for several reasons I'm going to register it as an APS but probably I won't have return in short time mainly because
I am busy with other stuff. What kind of taxes do I have to pay even in an idle period ?
Or I will pay taxes in the moment I start having some return ?
Please let me know.
Alex
 Subject: Re:taxes for an APS Startup... 02/05/11, 22:13 
AllanJ
Newbie
Joined: 02/05/11, 22:03
Posts: 2
Location: 
You won't be liable for annual corporate income tax until you show a profit in a fiscal year. And there is some opportunity to roll over a loss year into a profit year, but your accountant can tell you about that.

However, you will have to file quarterly VAT returns, and pay any VAT owed on that quarter (and, of course, if it is a negative VAT quarter, you would get money back).

The tax department does not care if you set up an ApS and do nothing with it... they do care if it runs with losses and little positive cash flow. So if your "startup" is getting little sales and little outside investment, yet is filing a negative VAT quarter every quarter, you will attract tax scrutiny.

But if you are doing a start up, I am sure you have good accounting and legal advice lined up, right?
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