Company Tax Return

[oldtimer]

Below is the information telephone number they do speak English also the email address if you wish to email them

Information Centre of the NRA - 0700 18 700, E-mail: infocenter@nra.bg ...

[ChrisF]

This appeared in one of our local papers recently -
ROM THIS YEAR THE LEGAL PERSONS WHO DO NOT HAVE ANY ACTIVITY IN THE CONTEXT OF THE ACCOUNTANCY LAW IN 2017, are not obliged to submit both an annual activity report and an annual tax return, the NRA Territorial Directorate in Veliko Tarnovo announced.

The remaining companies file an annual corporate tax return for 2017 by 2 April 2018. This statement also provides an annual activity report. Within the same period, the corporation tax payable, after deduction of the prepayments, must also be paid.

The tax return is submitted electronically (via Internet with electronic signature).

The non-submission of the declarations is sanctioned, with the minimum fine being BGN 500 for the legal entity and BGN 200 for the manager of the company.

Not very clear, and made worse by Google translate so I made some enquiries.
Two very reliable sources told me the same thing - non-trading companies are exempt from submitting SOME documents, but not all, so you still need to see your accountant
Also, the government tax previously payable on submission of accounts has been abolished for non-trading companies.
This would have been paid by your accountant and included in the fee which you paid to them.
These changes are the result of the new Bulgarian accountancy law which brings Bulgaria into line with the rest of the EU.
Basically, a simplified return is required and there is a fine if it is not done. The government tax is no longer payable so you might want to ask your accountant for a reduction in their fee - I think the tax was 25 leva if accounts were submitted online.

[ChrisF]

I went to see my accountant today and, almost before I was through the door and had a chance to say hello, she and her assistant were explaining that now there are new rules for non- trading companies; they no longer have to submit a full set of accounts but that two documents were still required. I was asked to sign a permission slip to authorise this new procedure (it wasn't necessary to have it notarized as it was previously when she submitted a full set of accounts for us) and that was it. Job done for another year.

[annanjon]

Hi all
I believe it's Chapter 15(4) of the Corporate Income Taxation Act (CITA), available in English on Nap.bg

[ellemgs]

Nothing to do with the above, but correct forum. Does anyone know if taxes are still payable at 20% on the sale of a property ( over 55.000 lev) many thanks. ellemgs

[ChrisF]

Think what you are referring to is DDC (VAT).
Yes, for any sale over 55,000 leva the company must register for DDC, and pay it.
Talk to your accountant

[ellemgs]

Thanks for that.

[coldarse]

I went to see my accountant today and, almost before I was through the door and had a chance to say hello, she and her assistant were explaining that now there are new rules for non- trading companies; they no longer have to submit a full set of accounts but that two documents were still required. I was asked to sign a permission slip to authorise this new procedure (it wasn't necessary to have it notarized as it was previously when she submitted a full set of accounts for us) and that was it. Job done for another year.

Hi Chris, can you give me a rough idea what your accountant charges we get charged 253 lev is this a lot or about right
regards pam

[tamarisk]

Hi Pam, I am with the same accountant as Chris, she charges 50 leva, that's for a non-trading company.

[THEPOSSOM]

I went to see my accountant today and, almost before I was through the door and had a chance to say hello, she and her assistant were explaining that now there are new rules for non- trading companies; they no longer have to submit a full set of accounts but that two documents were still required. I was asked to sign a permission slip to authorise this new procedure (it wasn't necessary to have it notarized as it was previously when she submitted a full set of accounts for us) and that was it. Job done for another year.

Chris, if a company director, changes the company onto his name, what are the benefits?