A: We assume that the answer of this question depends on the terms set in the contract, signed by the two parties. These two options are feasible:
a) If the contract foresees sanctions (like interest, penalty for breaking a contract) for not fulfilling the terms of this contract regarding the delivery, then the sanction should come into action at the day the delivery should have been made, but in fact it wasn’t, because there was a claim for this good and it was returned, meaning there was no delivery.
b) If the contract foresees a sanction (interest) for a delayed payment, then the interest should be formed from the date on you paid the amount to the date it was returned to you.
In this case the regulations from articles 79 and the following, from the Obligations and Contracts act, should come into action. Regarding the actual applying of these regulations a law assistance should be called and your relations with the supplier arranged in compliance with the contract and the law.
A: Every company in Bulgaria, regardless of the fact whether it has or currently doesn’t have any activity, should publish its financial statements in the Register Agency. The fact that a certain company is currently not operating does not mean that it doesn’t have assets and/or liabilities.
A: The deadlines applicable for Bulgaria are as follows:
- For the tax return statements: 31st of March into the National Revenue Agency;
- For the financial statements: 30th of June into the Trade Register of the Registry Agency.
A: The fiscal year in Bulgaria matches the calendar year – from 1st of January until 31st of December.
A: In Bulgaria, unlike other European countries, every legal entity is obliged to submit its VAT return every single month, regardless of the fact whether it has or doesn’t have any activity.