Company Tax Return

We don't like them but we gotta pay them! How does it work in Bulgaria?

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graymac
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Company Tax Return

Postby graymac » Wed Dec 27, 2006 3:14 pm

I have just received an email from the lawyer who arranged my LLC. He claims According to the Bulgarian tax legislation, the manager of the company is obligated to fill the annual tax return even if the company was not performing commercial activity during the period. This must be filed by the middle of January to avoid a fine. In order to do this on my behalf, he requires payment of 140 Euros.

Is the information correct (I set up the company in August 2006 and have not yet purchased a property through it) and does 140 euro seem reasonable for the service?

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oldtimer
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Postby oldtimer » Wed Dec 27, 2006 3:40 pm

Your company does have to file a tax return every year even if it is nil. If your solicitor is doing it for 140euros average price is between 110lv to 120lv

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DANNIA
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Postby DANNIA » Wed Dec 27, 2006 4:57 pm

Hi Graymac
OT is correct about having to file it regardless of commercial activity, we paid 100 euros for the first years nil tax return (and we hadn't bought a property at that point) and 25 euros for the 2nd year going through the agent we bought our house with.
Nikki

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ioric
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Postby ioric » Thu Dec 28, 2006 12:08 pm

Well yes - you need to fill the form, if you don't there is a fine of about 200 leva. It can be entered only from legal representative of the company - yourself, or anyone with POA. As for the price - too much. If you have an accountant appointed he/she can do it no problem, or your PM company.

Hope this helps.

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graymac
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Tax Return

Postby graymac » Fri Dec 29, 2006 2:15 pm

Thank you for the helpful replies. Can anyone clarify 2 points raised.

Firstly is the avaerage price for handling the company tax return is 120lv, could you recommend someone I can contact to do it?

Secondly, is the fine for non compliance 200lv because I was told by my lawyer that it was 2000lv (not 200)

Many thanks

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Joss
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Postby Joss » Fri Dec 29, 2006 2:41 pm

No, I think 200 lv is the fine. But I thought it had to be filed by 31st March. We've done ours in the last couple of weeks of March for the last 2 years and not been fined.

Joss

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oldtimer
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Postby oldtimer » Fri Dec 29, 2006 3:22 pm

They have to be filled by the end of March, the fine is one for the company and one for the director so in fact you do get 2 fines, total is usually about 500lv for a late return. Graymac depending on what part of BG you are in I can help if you are in the Burgas area.

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scot47
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Postby scot47 » Fri Dec 29, 2006 4:44 pm

Graymac

What is your LOCATION ? No sense in having a Vidin accountant if you are in Haskovo !

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scotty51
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Postby scotty51 » Wed Jan 03, 2007 3:49 pm

scot47 wrote:Graymac

What is your LOCATION ? No sense in having a Vidin accountant if you are in Haskovo !


I've been quoted 155 euros for my company returns and I'm around VT (west, NE, east & NW) by my estate agent's accountant. Expensive or not? I am not in BG until April 5th so have to trust someone??

Scotty

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sarah
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Postby sarah » Wed Jan 03, 2007 4:07 pm

Hi People,

Can anyone recommend an accountant who can do my tax return before year end at a reasonable rate? Based in or around VT.

I received an email today from my agent offering the services of her accountant who charges 155 euro, i feel this is too much so if anyone knows of an accountant who can do it cheaper, can you get in touch.

Many Thanks :)
Sarah

P.S apart from buying our house through the company, we have not traded.


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