Five Years of Flat Tax Rate in Bulgaria – Part II
The flat tax had a positive influence for the budget and this is an important result. The low tax rates are mostly criticized, because they don`t insure enough incomes to the budget and they “take the blood” out of the government and the social system. In this case it is absolutely the opposite. The low flat tax rate of 10% has secured more tax incomes exactly in the years of… Continue reading »
Posted in Bulgarian Tax Guide, Doing Business in Bulgaria, Taxation Tagged business in Bulgaria, Corporate Income Tax Act, Personal Income Tax Act, Tax, Tax Services in Bulgaria, Taxation, taxation bulgaria
Five Years of Flat Tax Rate in Bulgaria – Part I
In two consecutive years, a flat tax of 10% was introduced in Bulgaria. First in 2007 -10% tax on corporate incomes and in 2008 – 10% tax on incomes of individuals. The flat rate can be defined as a positive reform for Bulgaria. In the countries with flat tax rate the economy and the incomes grow significantly faster. The flat tax rate on incomes increases the economic activity, opens new… Continue reading »
Posted in Bulgarian Tax Guide, Doing Business in Bulgaria, Taxation Tagged business in Bulgaria, Consulting, Corporate Income Tax Act, Personal Income Tax Act, Tax, Tax Services, Tax Services in Bulgaria, taxation bulgaria
The European Bank for Recovery and Development Increased Its Positive Expectations For Economic Growth in Bulgaria to 1.9%
The European Bank for Recovery and Development (EBRD) expects an increase of the GDP rate with 1.9%. During the previous year the institution was expecting the growth to reach 1.7%.
The financial institution emphasizes that the fiscal position of the country remains stable with low deficit. It is also pointed that because of the successful emission of Eurobonds, which were issued last year, Bulgaria has significant fiscal and monetary buffers… Continue reading »
Posted in Bulgarian Tax Guide Tagged business in Bulgaria, Corporate Income Tax Act, GDP, Incorporation, Personal Income Tax Act, Tax Services in Bulgaria, taxation bulgaria
Interim Forecast of the European Commission – the Eurozone Is in a Slight Recession, Bulgaria Ranked 5th for Economic Growth for 2012
The last report of the European Commission on the growth of the EU member states, dated 23th February 2012, provides that despite of the expectations for recession in the Eurozone in general, Bulgaria is expected to demonstrate a steady economic growth and for that reason it is ranked 5th among the countries for economic growth. The European Commission revised entirely its forecast for economic growth of the EU member states… Continue reading »
Posted in Bulgarian Tax Guide, Clients Showcase, Consulting, Doing Business in Bulgaria, Incorporation, Taxation Tagged Accounting Services in Bulgaria, Annual Tax Return, bulgarian labor code, bulgarian national bank, business in Bulgaria, Corporate Income Tax Act, GDP, labor code bulgaria, Legislation, Tax Services in Bulgaria, Taxation, taxation bulgaria, Value Added Tax, VAT
Year-End Closure and Publishing the Financial Statements for 2011
It is the beginning of the year and according the Chapter 5 from the Accounting Law every single Bulgarian company is obliged to complete the year end closure and to prepare and publish its financial statements. The deadlines for the above mentioned obligations are the following:
- for the submission of the Annual Tax Returns for 2011 to the National Revenue Agency and to the National Statistic Institute – no… Continue reading »
Posted in Accounting, Bulgarian Laws in English, Bulgarian Tax Guide, Doing Business in Bulgaria, Questions & Answers, Taxation Tagged accounting bulgaria, Accounting Bulgaria Bookkeeping, Accounting Services in Bulgaria, Annual Tax Return, business in Bulgaria, CIT, income, Legislation, taxation bulgaria
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