Becoming self-employed, a risky adventure

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Written by Marcial Varela
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The idea of ​​starting a business crosses the minds of many young people who are tired of not finding a decent job. Starting an adventure alone or in company involves a series of risks that must be taken into account when making such an important decision for your future.

Is it really worth it to be self-employed? This is the question we will try to answer in the following lines and in another subsequent post.

First of all, you should know that working for yourself is not cheap. You need to estimate whether, with the income you expect to receive, it is worth registering as self-employed lithuania phone data and paying the taxes that this entails. A significant number of young people opt for the underground economy if they do not earn the minimum wage (648.60€/month), committing an illegal act that can lead to a significant fine.

Two options to issue an invoice legally


Register with Social Security as a self-employed person.
Register with the Tax Agency , which would require you to submit quarterly and annual VAT and personal income tax returns. In this case, you would invoice using your NIF.
If you choose the first option, you should be aware of the grants and subsidies you may be eligible for.

Aid and subsidies for people under 30 years of age


Flat rate: you must apply for it when registering with the RETA (Special Regime for Self-Employed Workers). The amount to be paid to Social Security varies over the first 18 months of activity, so three reduction brackets are established on the base and minimum contribution rate.