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
Obligations of an Employer According to the Bulgarian Insurance and Tax Legislation When Sending a Hired Person On a Business Trip From a EU Member State to Bulgaria
The case:
The questions cаme from an organization, which is a part of an international concern, established from companies which are separate legal entities. For the purpose of exporting the German production in Bulgaria, an Italian citizen with a form A1 has been sent to the Bulgarian company, who has an active labor contract with one of the concern companies in Germany. Your company signed a tripartite contract with the
Posted in Clients Showcase Tagged income, labor code bulgaria, labor contract bulgaria, Labour Code Bulgaria, Outsourcing, Payroll Bulgaria, payroll services bulgaria, Payroll Services in Bulgaria, Personal Income tax, Personal Income Tax Act, 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
New Favourable VAT Refund Opportunities For The Auto Market in Bulgaria
With the changes in legislation a lot of favourable conditions are back for getting a VAT refund when acquiring or renting company’s cars.
Some changes in the legislation provide greater opportunities for companies to deduct VAT. Companies could use tax credit in the following cases: when they use an operating leasing, when they buy cars for their main business with 6+1 seats and when transport and other specialized companies buy… Continue reading »
Posted in Changes in Legislation, Taxation Tagged Accounting Bulgaria Bookkeeping, accounting services bulgaria, Accounting Services in Bulgaria, business in Bulgaria, Consulting, Law, Legislation, Tax Services in Bulgaria, taxation bulgaria, Value Added Tax, VAT
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