21.01.2006 Last Days for Yearly Accounting of Bulgarian Ltd. Companies!

BulgarianProperties

Nill tax return declarations compulsory!
BulgarianProperties would like to remind all of our clients who have registered companies in Bulgaria that they are subject to Bulgarian tax legislation under paragraph 50 of the Bulgarian Corporate Income Tax Act. The tax year runs from 1st January to 31st December and company tax returns must be in by 31st March. Taxes must be paid within 15 days of submitting the declaration. Even if your company is not actively trading, a tax return still needs to be submitted. The fine for not submitting a financial report plus a tax declaration for the company’s activities is 2 500 BGN. You as managers and shareholders of these companies are ultimately responsible for ensuring that the tax declaration is completed on time.

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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