§ 54 Tax Act (StG) - Determination of Income

1. The taxable income is determined by the income in the tax period.

2. For the assessment of income from self-employment, the results of the financial statements falling within the tax period are decisive.

3. Taxpayers with self-employment must prepare a financial statement during each tax period and at the end of the tax obligation. A financial statement is not required if the employment activity begins only in the last quarter of the tax period.

4. If the tax obligation exists only during part of the tax period, the tax is levied on the income earned in that period. In this context, the tax rate for regularly occurring income is determined based on the income calculated over twelve months; irregularly occurring income is not recalculated for the determination of the tax rate. Section 58 remains reserved.

5. The deductions are subject to paragraph 4 mutatis mutandis.

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