Preparation of financial statements
All transactions and events registered in the accounting records are incorporated into the financial statements of the period.
Very small entities, specifically sole proprietorships with a turnover not exceeding 1,500,000 Euros, may only prepare the Income Statement of B6 model pursuant to the Law 4308/2014.
MODEL B6 of Law 4308/2014
Statement of Results for very small entities
|
|
20Χ1 |
20Χ0 |
|
Turnover (net) |
Χ |
Χ |
|
Other usual income |
Χ |
Χ |
|
Inventory changes (commodities, products, semi-finished) |
Χ |
Χ |
|
Purchase of commodities and materials |
Χ |
Χ |
|
Benefits to employees |
Χ |
Χ |
|
Depreciation of tangible and intangible assets |
Χ |
Χ |
|
Other costs and damages |
Χ |
Χ |
|
Other income and profits |
Χ |
Χ |
|
Interest and related funds (net amount) |
Χ |
Χ |
|
Profits/losses before tax |
Χ |
Χ |
|
Tax |
Χ |
Χ |
|
Profits/losses after tax |
Χ |
Χ |
The preparation of financial statements for the period must be completed as soon as possible, namely:
a) six months from the end of the period or
b) the time limit allowed by the tax administration for fulfillment of your obligations.
You should know that:
When the turnover of your sole proprietorship exceeds 1,500,000 Euros for two consecutive annual periods, you shall no longer fall within the category of very small entities.
Remember:
For more information regarding the simplifications and reliefs that apply to very small entities, please read Article 30 of Law 4308/2014.