06.02.2009 BULGARIAN PROPERTIES Remind About Annual Tax Declarations of All Bulgarian Companies

BULGARIAN PROPERTIES Head Office

BULGARIAN PROPERTIES would like to remind all our clients who have registered companies in Bulgaria that they are subject to Bulgarian tax legislation.

The tax year runs from 1st January to 31st December and company tax returns must be submitted by 31st March. Corporate taxes (if due) must be paid not later than 31st March. Even if your company is not actively trading, a tax declaration still needs to be submitted. The fine for not submitting a financial report plus a tax declaration for the company’s activities is from 500 to 3000 BGN. You as managers and shareholders of these companies are ultimately responsible for ensuring that the tax declaration is completed on time.

Tax return declarations prepared by certified accountants are compulsory no matter whether the company is active or not.

We would welcome any enquiries from clients who have companies registered in Bulgaria and require assistance with arranging their company accountancy in order to avoid any problems with the Bulgarian Tax Administration.

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