Mon 13 Nov 2017
News - Accounting obligations for Directors
Description
Dear Member,

ILA would like to draw your attention to the circular L.G. – A n°63 from the Administration des Contributions Directes dated September 15th, 2017 (in French only) which details the accounting requirements for tax purposes.

In this context, the tax authority recalls that liberal professionals (among which professional directors) are required to use a double-entry bookkeeping when the revenues from their activity exceed the threshold of EUR 100,000. -. In terms of timing, this obligation must be respected and put into practice for the 1st operating year beginning after December 31st, 2017 at the latest.

For any further details, please refer to the circular and to your tax advisor.

The ILA team