Taxation of the single-member company with limited liability (EURL): what you need to know

Verified 07 August 2024 - Directorate for Legal and Administrative Information (Prime Minister)

EURL is a limited liability company (SARL) with a single member. It benefits from various tax breaks.

Associate natural person

At the time of its creation, an EURL shall be automatically subject to theIncome tax (IR). In other words, its profits will be taxed directly at the level of the single partner, according to the rules of the IR.

Declaration of results

Every business must subscribe to a annual income statement. The documents to be transmitted and the reporting arrangements shall depend on the tax system (micro BIC/BNC, real simplified, real normal) under which the business is placed.

Micro BIC/BNC

Where the business is subject to the micro-tax system, the turnover or the amount of revenue must be borne directly by the single-member income tax return, by means of form #2042-C-PRO.

The declaration must be made by electronic channel, fromspecial space of the single partner on impots.gouv.fr.

Simplified Real

The business must achieve its annual income statement no later than 2e working day following 1er May of the current year.

The business shall submit the following documents:

  • If he is engaged in a commercial or craft activity: form 2031 and tax book (Tables No 2033-A-SD to 2033-G-SD)
    If he is engaged in a liberal activity: form 2035 and tax book (Tables No 2035-A-SD to 2035-G-SD).
  • List of subsidiaries and holdings, specifying for each of them the holding rate and its SIRET number.

The declaration must be made electronically, in accordance with the procedure of his choice:

  • Either in EDI-TDFC mode, this is the transmission of declarations from accounting files, via a EDI partner (e.g. accountant, specialized contractor).
  • Either in EFI mode, i.e. from its Professional area accessible from impots.gouv.fr.

The tax administration shall grant an additional period of 15 calendar days to carry out this teleprocedure.

Normal Actual

The business must achieve its annual income statement no later than 2e working day following 1er May of the current year.

The business shall submit the following documents:

  • If he is engaged in a commercial or craft activity: form 2031 and tax book (tables n° 2050-SD to 2059-G-SD)
    If he is engaged in a liberal activity: form 2035 and tax book (Tables No 2035-A-SD to 2035-G-SD).
  • List of subsidiaries and holdings, specifying for each of them the holding rate and its SIRET number.

The business must make its declaration electronically in EDI-TDFC mode. This is the electronic transmission of declarations from accounting files, via a EDI partner (e.g. accountant, specialized contractor).

The tax administration shall grant an additional period of 15 calendar days to carry out this teleprocedure.

Payment of Income Tax (IR)

The profits made by EURL are included in the income tax base the single partner, in the category of industrial and commercial profits (BIC) or non-commercial profits (NTB).

Thus, all the income of the single member will be subject to the progressive scale of IR, that is to say of 0 to 45% according to their tax bracket.

Tableau - 2023 progressive income scale

Income brackets

Income tax bracket rate

Up to €11,294

0%

From €11,295 to  €28,797

11%

From  €28,798 to  €82,341

30%

From  €82,342 to €177,106

41%

More than €177,106

45%

An EURL can be liable to pay a certain number of fees. The main taxes are:

  • Value added tax (VAT)
  • Company Property Tax (CFE)
  • Company Value Added Tax (VAE)

VAT

In principle, the business collects the value added tax (VAT) on each of the sales and the services performed by it. Next, it must repay the VAT collected to the tax authorities.

The rules on VAT declaration and payment vary according to the taxation system to which the business is subject:

  • VAT exemption : the business has a duty-free turnover of less than €36,800 for the provision of services or less than €91,900 for trade and accommodation activities.
  • Simplified real regime : the business has a duty-free turnover of between €36,800 and €254,000 for the provision of services or between €91,900 and €840,000 for trade and accommodation activities. In addition, the annual amount of VAT collected must be less than €15,000.
  • Normal Actual Speed : the business has a duty-free turnover of more than €254,000 for the provision of services or €840,000 for trading and providing housing. In addition, the business is also subject to the standard arrangements where the annual amount of VAT collected exceeds €15,000 (even if the amount of turnover is within the limits of the thresholds of the real simplified scheme).
VAT exemption

The business that benefits from exemption from VAT is exempt from VAT declaration and payment on the sales and services it performs. Thus, sales or services are invoiced without VAT, that is to say duty-free.

FYI  

Each invoice must bear the following statement: " VAT not applicable - article 293 B of the General Tax Code (CGI) ”.

By benefiting from the VAT exemption scheme, the business cannot deduct the VAT which it has itself paid on purchases which it has made in the course of its professional activity.

Regardless of the amount of its annual turnover, the business may opting for VAT payment and bill her to her customers. This will enable it to recover deductible VAT on business expenses.

The request for an option must be made in writing to the company tax department (SIE) on which it depends. The option takes effect on 1er the day of the month in which it is reported.

Who shall I contact
Simplified real regime

The business must realize an annual VAT return, no later than 2e working day following 1er May, through the form 3517 CA12. This statement shall summarize all taxable transactions of thecalendar year previous.

Please note

Where the company's accounting year does not coincide with a calendar year (the year is not closed on 31 December), then the VAT return must be made within 3 months of the end of the accounting year.

In addition, the business must pay the VAT collected in 2 installments :

  • In July, 1er deposit of 55% of VAT due for the preceding financial year
  • In December, 2nd deposit of 40% the VAT due for the preceding financial year.

The amount still to be paid will have to be paid at the time of the VAT return for the following year.

Please note

The dates of payment of VAT prepayments can be consulted in the professional area of the business, on the website impots.gouv.fr, via the service “ Report VAT ”.

The business must make his declaration and the payment of installments electronically, in accordance with the procedure of his choice:

  • Either in EDI-TDFC mode, this is the transmission of declarations from accounting files, via a EDI partner (e.g. accountant, specialized contractor).
  • Either in EFI mode, i.e. from its Professional area accessible from impots.gouv.fr.
Normal Actual Speed

Every month, the business must declare and pay the VAT collected during the previous month, by means of form 3310 CA3.

Where the amount of net VAT due is less than €4,000, the business may opt to submit a VAT return every quarter.

Please note

The dates of submission of monthly and quarterly VAT returns can be consulted in the professional area of the business, on the website impots.gouv.fr, via the service “ Report VAT ”.

The business must make his declaration and the payment of installments electronically, in accordance with the procedure of his choice:

  • Either in EDI-TDFC mode, this is the transmission of declarations from accounting files, via a EDI partner (e.g. accountant, specialized contractor).
  • Either in EFI mode, i.e. from its Professional area accessible from impots.gouv.fr.

CFE

The company property tax (CFE) is a local tax payable by any business habitually carrying on a self-employed occupation and generating annual turnover greater than €5,000.

Depending on where it is located or the activity it carries out, the business may benefit from permanent or temporary exemption from CFE.

Please note

L'year of its creation, the business must perform a 1447-C-SD statement (so-called initial declaration) to benefit from a total exemption from CFE. The declaration shall be sent by post, before 31 December, to the company Tax Office (SIE) on which it depends in order to have the tax elements established for the following year.

The business liable to pay the CFE shall receive a paperless tax notice (and not by mail) on its business area accessible from impots.gouv.fr. This tax notice indicates the amount of the CFE and the time limit for settling it.

Payment terms vary by amount of CFE settled in the previous year by business.

CFE less than or equal to € 3 000

The amount of the CFE has to be paid no later than 15 December.

FYI  

Where the deadline for payment or withdrawal of the CFE coincides with a Saturday, Sunday or public holiday, it shall be extended to 1er working day next.

The business has the choice between the following payment methods:

  • Internet payment via the online tax account : Default payment method, the business itself makes the online payment of the contribution. This mode is mandatory for companies covered by the DGE.
  • Monthly levy : payment method on option, the business is automatically deducted every 15th of the month from January to October. Each levy corresponds to one tenth of the amount of the CFE. The option is available until June 30.
  • Pick at maturity : payment method on option, the business is automatically deducted at maturity. The option is available until November 30.
CFE over €3,000

The business must pay a down payment equal to 50% of the CFE paid in the previous year. The amount of the deposit is indicated on a notice of advance payment dematerialized, available on the online tax account business.

The deposit has to be paid between may 31 and june 17, 2024.

The remaining balance of the EFC has to be settled no later than 15 december 2024.

FYI  

Where the deadline for payment or withdrawal of the CFE coincides with a Saturday, Sunday or public holiday, it shall be extended to 1er working day next.

The business has the choice between the following payment methods:

  • Internet payment via the online tax account : Default payment method, the business itself makes the online payment of the contribution. This mode is mandatory for companies covered by the DGE.
  • Monthly levy : payment method on option, the business is automatically deducted every 15th of the month from January to October. Each levy corresponds to one tenth of the amount of the CFE. The option is available until June 15.
  • Pick at maturity : payment method on option, the business is automatically deducted at maturity. The option is available until 31 May for the deposit and until 30 November for the payment of the balance.

CVAE

The company value added tax (VAAC) is a local tax payable by any business person liable to pay the CFE and that achieves more than €500,000 annual turnover excluding tax.

In addition, a business with a turnover of more than €152,500 must perform a declaration of value added and of employed personseven if it does not have to pay the EFA. The declaration shall be made online, starting frombusiness area on impots.gouv.fr.

In addition, the business liable to the CVAE must pay it on its own initiative, it does not receive a tax assessment.

Payment terms vary by amount of CVAE paid in the previous year by the company. The threshold is set to €1,500.

CVAE less than or equal to €1,500

The EFA shall be paid all at once when carrying out the statement of settlement and adjustment (also called final liquidation of CVAE), via the form No 1329-DEF.

This declaration shall take place no later than the 2nde working day following 1er May of the year following the year of taxation.

Example :

The CVAE due under 2023 must be paid by teleregulation by 3 May 2024.

CVAE over €1,500

The EFA shall be paid in 2 installments, via the deposit statement n°1329-AC-SD :

  • one first down payment equal to 50% of the CVAE due by June 15 of the taxation year
  • one second installment equal to 50% of the CVAE due by September 15 of the taxation year.

Example :

A company paid €4,800 of CVAE in 2023. In 2024, it must therefore pay its CVAE in the form of 2 down payments : one on 15 June 2024 and one on 15 September 2024.

In the event of a surplus resulting from an overpayment of advance payments, this is refunded by the tax authorities, after deduction of any other direct taxes due.

In addition, the business must perform a statement of settlement and adjustment (also called final liquidation of CVAE), via the form No 1329-DEF. This declaration shall take place no later than the 2nde working day following 1er May of the year following the year of taxation.

The business must make the payment of the EFA electronically, in accordance with the procedure of his choice:

  • Either in EDI-TDFC mode, this is the transmission of declarations from accounting files, via a EDI partner (e.g. accountant, specialized contractor).
  • Either in EFI mode, i.e. from its Professional area accessible from impots.gouv.fr.

It is necessary to distinguish the single associate manager and the unassociated manager.

Associate Manager

The single associate manager is subject to income tax (IR) on realized profit by business, in the category of BICs or NBCs according to the business of the business.

In the event of a deficit, it shall be charged to the single member’s overall income for that year. The surplus deficit can be carried over into the aggregate income of the next six years.

Please note

In this configuration where the profits of the business are taxed directly in the name of the partner, there can be no dividends.

Furthermore, any remuneration of the manager under his social mandate shall not be not deductible taxable profit.

Unassociated Manager

The functions of manager may be free of charge or remunerated. Remuneration is freely fixed by the statutes, it may be fixed or variable.

The manager must declare this remuneration as " wages and salaries ” on his personal income tax return.

A single-member company with limited liability (EURL) may benefit from miscellaneous tax relief (non-exhaustive list), either:

Please note

A natural person who subscribed in cash to a business' capital may benefit from IR-SME tax reduction equal to 18% payments made to the business.

Associate legal person

Where the sole member of EURL is a legal person (e.g. business, association), the legal person shall be obligatory subject to thebusiness tax (IS). In other words, its profits will be taxed according to the rules of the IS.

Reporting of results

Any business subject to SI must subscribe to a annual income statement. The documents to be transmitted and the reporting arrangements shall depend on the tax system (regular real or simplified real) under which the business is placed.

Simplified real regime

The business covered by the actual simplified scheme must transmit the subsequent documents :

  • Income Statement No. 2065
  • Tax book (Tables 2033 A to 2033 G)
  • Minutes and extracts of the deliberations of the boards of directors or meetings of members during the financial year
  • Statement of the profits distributed to members and of the sums or values made available to them and having the character of distributed income
  • List of persons holding at least 10% the share capital, specifying for each of them the number of shares and the holding rate
  • List of subsidiaries and holdings, specifying for each of them the holding rate and its SIRET number

The business must make its declaration electronically, in accordance with the procedure of his choice:

  • Either in EDI-TDFC mode, this is the transmission of declarations from accounting files, via a EDI partner (e.g. accountant, specialized contractor).
  • Either in EFI mode, i.e. from its Professional area accessible from impots.gouv.fr.
Normal Actual Speed

The business under the normal real regime shall transmit the subsequent documents :

  • Income Statement No. 2065
  • Tax book (Tables 2050 to 2059)
  • Minutes and extracts of the proceedings of the boards of directors or meetings of members held during the financial year
  • Statement of the profits distributed to members and of the sums or values made available to them and having the character of distributed income
  • List of persons holding at least 10% the share capital, specifying for each of them the number of shares and the holding rate
  • List of subsidiaries and holdings, specifying for each of them the holding rate and its SIRET number
  • Detailed information on deviations from accounting requirements, changes in valuation methods and presentation of annual accounts, accrued income and accrued expenses, income and expenses shown in the balance sheet under items ‘ Accruals and deferred income ”.

The business must make its declaration electronically in EDI-TDFC mode. This is the electronic transmission of declarations from accounting files, via a EDI partner (e.g. accountant, specialized contractor).

The declaration of results must be signed, in principle, within 3 months the end of the financial year. However, if the financial year is closed on 31 December or if no financial year is closed in a year, the declaration shall be made at the latest on 2e working day following 1er May.

FYI  

The tax administration shall grant an additional period of 15 calendar days to carry out this teleprocedure.

Tableau - Date of submission of the declaration of profit and loss and related documents

Legal Deadline

Deadline

Fiscal year ended other than December 31

Within 3 months of year-end close

Within 3 months of year-end close

Year ended 31/12/2024

No later than 2e working day after 1er May

20/05/2025 (taking into account the additional 15 days)

No closure in 2024

No later than 2e working day after 1er May

20/05/2025 (taking into account the additional 15 days)

In addition, new businesses which do not take stock during their first calendar year activity do not have to file an interim return. They shall be taxed on the results of the period elapsing from the beginning of their activity until the end of the first financial year and, at the latest, until 31 December of the year following that in which they were created.

Warning  

Failure to comply with the obligation to report results by electronic means shall be punished by an increase of 0.2% of the amount of duty corresponding to the declaration lodged by another method (e.g. paper). This increase may not be less than €60.

Payment of business tax (SI)

The amount of business tax (IS) is calculated from the results of the last completed fiscal year. The tax rate is 25% on the whole of the tax result.

Please note

One reduced rate 15% shall apply to small and medium-sized companies which have a duty-free turnover not exceeding €10 000 000 and whose capital is fully paid up and held for at least 75% by natural persons. This rate applies to the share of profits up to €42,500. Beyond that, the tax rate is 25%.

The business tax (IS) is paid in 5 installments, i.e 4 quarterly installments and 1 balance.

The payment of each deposit is made by means of the deposit statement no. 2571, transmitted electronically via the EDI partner or online on the professional area of the impots.gouv.fr website.

Each prepayment is made fixed date : 15 March, 15 June, 15 September and 15 December. Deadlines for payment depend on the closing date of the financial year of the business.

FYI  

The business does not have to make advance payments (one-time payment of the SI) in the following cases:

  • The amount of the SI is less than €3,000.
  • The business is newly set up (first year of operation).
  • The business is newly subject to the SI (first tax period).

Tableau - Dates of payment of the advance payments of the SI in year N

Closing date of the financial year concerned

1er down payment

2e down payment

3e down payment

4e down payment

From 20 February to 19 May N

15 June N-1

15 September N-1

15 December N-1

March 15 N

May 20 to August 19 N

15 September N-1

15 December N-1

March 15 N

June 15 N

20 August to 19 November N

15 December N-1

March 15 N

June 15 N

September 15 N

November 20 N to February 19 N+1

March 15 N

June 15 N

September 15 N

December 15 N

The balance is equal to the tax due on realized annual profits less advance payments already made. Where applicable, available tax credits are deducted.

The business shall pay the balance by means of the balance sheet no. 2572 by electronic means at the latest the 15th of the 4the month following the end of the financial year. However, if no financial year is closed during the year or if the financial year is closed on 31 December, the business must pay the balance at the latest 15 May of the following year.

Please note

Where the payment of the SI shows an overpayment, this surplus is automatically repaid business within 30 days of the deposit of the statement of balance. The excess may also be charged to the first advance payment of the following financial year.

Tableau - Date of payment of the balance of the SI

Closing date of the financial year concerned

Balance

31 December N-1

15 May N

In year N

The 15th of the 4the month after closing

An EURL can be liable to pay a certain number of fees. The main taxes are:

  • Value added tax (VAT)
  • Company Property Tax (CFE)
  • Company Value Added Tax (VAE)

VAT

In principle, the business collects the value added tax (VAT) on each of the sales and the services performed by it. Next, it must repay the VAT collected to the tax authorities.

The rules on VAT declaration and payment vary according to the taxation system to which the business is subject:

  • VAT exemption : the business has a duty-free turnover of less than €36,800 for the provision of services or less than €91,900 for trade and accommodation activities.
  • Simplified real regime : the business has a duty-free turnover of between €36,800 and €254,000 for the provision of services or between €91,900 and €840,000 for trade and accommodation activities. In addition, the annual amount of VAT collected must be less than €15,000.
  • Normal Actual Speed : the business has a duty-free turnover of more than €254,000 for the provision of services or €840,000 for trading and providing housing. In addition, the business is also subject to the standard arrangements where the annual amount of VAT collected exceeds €15,000 (even if the amount of turnover is within the limits of the thresholds of the real simplified scheme).
VAT exemption

The business that benefits from exemption from VAT is exempt from VAT declaration and payment on the sales and services it performs. Thus, sales or services are invoiced without VAT, that is to say duty-free.

FYI  

Each invoice must bear the following statement: " VAT not applicable - article 293 B of the General Tax Code (CGI) ”.

By benefiting from the VAT exemption scheme, the business cannot deduct the VAT which it has itself paid on purchases which it has made in the course of its professional activity.

Regardless of the amount of its annual turnover, the business may opting for VAT payment and bill her to her customers. This will enable it to recover deductible VAT on business expenses.

The request for an option must be made in writing to the company tax department (SIE) on which it depends. The option takes effect on 1er the day of the month in which it is reported.

Who shall I contact
Simplified real regime

The business must realize an annual VAT return, no later than 2e working day following 1er May, through the form 3517 CA12. This statement shall summarize all taxable transactions of thecalendar year previous.

Please note

Where the company's accounting year does not coincide with a calendar year (the year is not closed on 31 December), then the VAT return must be made within 3 months of the end of the accounting year.

In addition, the business must pay the VAT collected in 2 installments :

  • In July, 1er deposit of 55% of VAT due for the preceding financial year
  • In December, 2nd deposit of 40% the VAT due for the preceding financial year.

The amount still to be paid will have to be paid at the time of the VAT return for the following year.

Please note

The dates of payment of VAT prepayments can be consulted in the professional area of the business, on the website impots.gouv.fr, via the service “ Report VAT ”.

The business must make his declaration and the payment of installments electronically, in accordance with the procedure of his choice:

  • Either in EDI-TDFC mode, this is the transmission of declarations from accounting files, via a EDI partner (e.g. accountant, specialized contractor).
  • Either in EFI mode, i.e. from its Professional area accessible from impots.gouv.fr.
Normal Actual Speed

Every month, the business must declare and pay the VAT collected during the previous month, by means of form 3310 CA3.

Where the amount of net VAT due is less than €4,000, the business may opt to submit a VAT return every quarter.

Please note

The dates of submission of monthly and quarterly VAT returns can be consulted in the professional area of the business, on the website impots.gouv.fr, via the service “ Report VAT ”.

The business must make his declaration and the payment of installments electronically, in accordance with the procedure of his choice:

  • Either in EDI-TDFC mode, this is the transmission of declarations from accounting files, via a EDI partner (e.g. accountant, specialized contractor).
  • Either in EFI mode, i.e. from its Professional area accessible from impots.gouv.fr.

CFE

The company property tax (CFE) is a local tax payable by any business habitually carrying on a self-employed occupation and generating annual turnover greater than €5,000.

Depending on where it is located or the activity it carries out, the business may benefit from permanent or temporary exemption from CFE.

Please note

L'year of its creation, the business must perform a 1447-C-SD statement (so-called initial declaration) to benefit from a total exemption from CFE. The declaration shall be sent by post, before 31 December, to the company Tax Office (SIE) on which it depends in order to have the tax elements established for the following year.

The business liable to pay the CFE shall receive a paperless tax notice (and not by mail) on its business area accessible from impots.gouv.fr. This tax notice indicates the amount of the CFE and the time limit for settling it.

Payment terms vary by amount of CFE settled in the previous year by business.

CFE less than or equal to € 3 000

The amount of the CFE has to be paid no later than 15 December.

FYI  

Where the deadline for payment or withdrawal of the CFE coincides with a Saturday, Sunday or public holiday, it shall be extended to 1er working day next.

The business has the choice between the following payment methods:

  • Internet payment via the online tax account : Default payment method, the business itself makes the online payment of the contribution. This mode is mandatory for companies covered by the DGE.
  • Monthly levy : payment method on option, the business is automatically deducted every 15th of the month from January to October. Each levy corresponds to one tenth of the amount of the CFE. The option is available until June 30.
  • Pick at maturity : payment method on option, the business is automatically deducted at maturity. The option is available until November 30.
CFE over €3,000

The business must pay a down payment equal to 50% of the CFE paid in the previous year. The amount of the deposit is indicated on a notice of advance payment dematerialized, available on the online tax account business.

The deposit has to be paid between may 31 and june 17, 2024.

The remaining balance of the EFC has to be settled no later than 15 december 2024.

FYI  

Where the deadline for payment or withdrawal of the CFE coincides with a Saturday, Sunday or public holiday, it shall be extended to 1er working day next.

The business has the choice between the following payment methods:

  • Internet payment via the online tax account : Default payment method, the business itself makes the online payment of the contribution. This mode is mandatory for companies covered by the DGE.
  • Monthly levy : payment method on option, the business is automatically deducted every 15th of the month from January to October. Each levy corresponds to one tenth of the amount of the CFE. The option is available until June 15.
  • Pick at maturity : payment method on option, the business is automatically deducted at maturity. The option is available until 31 May for the deposit and until 30 November for the payment of the balance.

CVAE

The company value added tax (VAAC) is a local tax payable by any business person liable to pay the CFE and that achieves more than €500,000 annual turnover excluding tax.

In addition, a business with a turnover of more than €152,500 must perform a declaration of value added and of employed personseven if it does not have to pay the EFA. The declaration shall be made online, starting frombusiness area on impots.gouv.fr.

In addition, the business liable to the CVAE must pay it on its own initiative, it does not receive a tax assessment.

Payment terms vary by amount of CVAE paid in the previous year by the company. The threshold is set to €1,500.

CVAE less than or equal to €1,500

The EFA shall be paid all at once when carrying out the statement of settlement and adjustment (also called final liquidation of CVAE), via the form No 1329-DEF.

This declaration shall take place no later than the 2nde working day following 1er May of the year following the year of taxation.

Example :

The CVAE due under 2023 must be paid by teleregulation by 3 May 2024.

CVAE over €1,500

The EFA shall be paid in 2 installments, via the deposit statement n°1329-AC-SD :

  • one first down payment equal to 50% of the CVAE due by June 15 of the taxation year
  • one second installment equal to 50% of the CVAE due by September 15 of the taxation year.

Example :

A company paid €4,800 of CVAE in 2023. In 2024, it must therefore pay its CVAE in the form of 2 down payments : one on 15 June 2024 and one on 15 September 2024.

In the event of a surplus resulting from an overpayment of advance payments, this is refunded by the tax authorities, after deduction of any other direct taxes due.

In addition, the business must perform a statement of settlement and adjustment (also called final liquidation of CVAE), via the form No 1329-DEF. This declaration shall take place no later than the 2nde working day following 1er May of the year following the year of taxation.

The business must make the payment of the EFA electronically, in accordance with the procedure of his choice:

  • Either in EDI-TDFC mode, this is the transmission of declarations from accounting files, via a EDI partner (e.g. accountant, specialized contractor).
  • Either in EFI mode, i.e. from its Professional area accessible from impots.gouv.fr.

The manager of the EURL must be a natural person. Therefore, the sole shareholder cannot be the manager.

The functions of manager may be free of charge or remunerated. Remuneration is freely fixed by the statutes, it may be fixed or variable.

The manager must declare this remuneration as " wages and salaries ” on his personal income tax return.

Please note

Such remuneration shall be considered as a deductible charge the tax result of the business.

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