No audit = No bookkeeping?

[inector]

This is having like Hungary / Estonia in mind. Both have audit requirements of net sales, like 400K per year and 4M per year respectively.

Obviously financial statements will be submitted, just without collection of invoices, and probably myself.

Does it mean that bookkeeping of like collecting invoices, sending them...is not needed?

 

[Clank]

Yes, it's needed even if you don't send them.

 

[Sols]

Some form of accounting is usually required by law. Audits are just there to check that big companies comply with such legal requirements. Spot checks occur but are very rare.

Just outsource it if you don't have an in-house accountant.