Company Tax Return

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

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Blackwell
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Tax Return

Postby Blackwell » Thu Nov 11, 2010 3:45 pm

Could someone please unconfuse me!!! :roll:

We have been told that the law has changed and now 2 full sets of accounts have to be submitted for the end of year tax return. Each to a different department.

We also know of people who are just still submitting a nil tax return with no accounts. We have been told if they catch up with them, there will be a heavy fine !!!

Who knows exactly what the law is and what you have to submit ?????
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Postby mike4727 » Thu Nov 11, 2010 4:22 pm

Hi Blackwell,

if you read the preceeding post by Kazz you should not be confused, it is a concise and accurate account of what is required. I assume that you already have your company re-registered with the Trade Registry. Forget what other people tell you about the contents of their tax returns or anything else, most of them do not even know what a tax return is, here or in UK :lol:

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Company Tax rreturn

Postby Suil-Glas » Thu Nov 11, 2010 5:59 pm

Can anyone recommend an accountant in the Dobrich/General Toshevo area to file comjpany tax return? Thanks :?

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Postby regfrancis » Fri Dec 10, 2010 12:40 am

To do your tax return, has any one tried COMPANY CONSULTANTS

website:
http://www.companyconsultantsbg.com

??? Would like to hear what you know

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DaveyBoy
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Cmpany Tax Returns

Postby DaveyBoy » Wed Jan 05, 2011 10:57 pm

Hi All,
Sorry If I am going over old ground here BUT.. I re-registered the company at the end of last year and as part of it I believe that a tax return had to be re-done? Now I am being told that I need to submit a tax return before end of March (cost 300 lev) and also pay a Solicitor to 'publish' the company return (cost 200 lev).

Does this sound right? It seems that the cost of having a NIL return each year is spiralling out of control!!!

Any guidance gratefully received.

Thanks as ever

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ChrisF
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Postby ChrisF » Thu Jan 06, 2011 5:34 am

Reregistering your company and submitting yearly tax returns are two quite different things.

From what you say your reregistration is done, so can be forgotten.

However you must still submit a yearly tax return before the end of March and this must be published in the new register, and your accountant/lawyer will charge for this.

The fees you have been quoted are quite a bit higher than the fees I pay so I would suggest that you shop around a bit.

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DaveyBoy
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Company Tax Return

Postby DaveyBoy » Thu Jan 06, 2011 7:37 am

Thanks Chris,
I do understand the need to file accounts each year, I am self employed so am used to the concept. What I don't understand is the need now apparently to pay a Solicitor to 'publish' the accounts!!?
Does anyone know if this is in fact a legal requirement?

Many thanks

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Postby ChrisF » Thu Jan 06, 2011 7:56 am

Sorry, DaveyBoy, I wasn't sure what your background was.

Publishing them is a legal requirement - you can actually take them them yourself to the local office and submit them personally (probably best to have a Bulgarian translator with you).

I believe the government tax for this is 50 lv (somebody please correct me if I am wrong) so your lawyer is charging a hefty wack on top. My accountant charges a total of 80 lv - I don't think 30 lv is excessive considering the time involved.


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Re: Cmpany Tax Returns

Postby theweeton » Fri Jan 07, 2011 3:02 pm

DaveyBoy wrote:Does this sound right? It seems that the cost of having a NIL return each year is spiralling out of control!!!

Any guidance gratefully received.

Thanks as ever

Daveyboy

No need for a solicitor the actual cost for submission is fifty leva and a couple of leva bank carge (plus whatever you pay the person doing it).

If you have recently reregistered you have to submit paperwork to the tax office, in laymans terms closing the old company account and opening a new one, this one would imagine is done as part of the renewal but for some it is not.

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Postby JL76 » Fri Jan 07, 2011 6:16 pm

OK people just seen this post about company taxes.

We took our Nil tax return to the relevant office only a few weeks after we bought the house, as we had been told it was necessary to do so, although we had not long only a few weeks had the company.

Now of course we read these posts about 50 leva as a fee for putting in the tax return.

Which of course we have not paid as no one at the office or anywhere else told us it was necessary.

We took the form to the office was given a receipt and told nothing more.

So my question is, who do we pay the fee to and how do we now pay the fee for last year, and of course this year again when we take the form to the tax office, what do we need to get from the tax office to take to the bank to pay the 50 leva?

Thanks for your help.

I have been asked on this forum why I don’t like Bulgarian’s?

I don’t think it is a good idea to answer this question as I think I will again get in to trouble here!


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