Self-employed
Since 01/01/2017, all self-employed people with a yearly turnover of more than EUR 100,000 should have an accrual accounting system.
€100,000
of yearly turnover: above this, accrual accounting is required
Below EUR 100,000 of yearly turnover and if you offer intellectual services, like consulting, you can have a cash basis accounting system.
To remember
1. Above EUR 100,000: accrual accounting.
2. Below EUR 100,000 and intellectual services: cash basis accounting is possible.
Why Galux
We keep the books of self-employed professionals in Luxembourg, whichever accounting system applies to them.
Not sure which system applies to you?
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