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BUSINESS IN SAN MARINO

The amount of capital should not be less than EUR 25,500 for limited liability companies and 77,000 euros for corporations. San Marino laws indicate that at least half of the initial capital contribution must be made within sixty days off after the registration date and if you pay in cash, to be deposited in a credit institution in San Marino. If society is unilateral, all contributions must be in cash and paid within sixty days after the registration date. In all cases, payment of all contributions must be requested by the directors within three years from the date of registration of the company.

DIRECT TAXES

IGR is the general income tax that, for employed persons is called I.G.R.L. (tax for physical persons and withholding tax system) and for companies, IGRP (tax for legal entities). General Taxes in San Marino is 17% of net income and applied to the profits of legal persons. Only income made ​​in San Marino is taxable and those that are or are not residents are taxed on the basis of tax brackets and progressive tax calculations.

This tax is to trade and is a form of indirect taxation, is applicable only when the goods are imported in San Marino. The standard rate in this type of import is 17% of the tax base as this is considered an import, is recognized as equivalent to the VAT (value added tax).

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