Consulting

Easter Holidays in April 2018

Dear Clients & Partners, With the present, we would like to kindly remind you for the forthcoming holidays in April 2018. We celebrate: * Easter from 6th to 9th of April including as public holidays in Bulgaria. Therefore, please be informed that our office will be closed for business on the [...]

2018-04-04T16:21:50+00:00 April 4th, 2018|Accounting, Consulting, Doing Business in Bulgaria|

Tax reliefs from employment in Bulgaria

From this year on, a new declaration for lack of public liabilities must be filled for those employees who would like to benefit from tax relief. According to the Personal Income Tax Act (PITA), every taxable person who has no mandatory public obligations at the date of submission of the annual tax return can submit [...]

Amendments to the Ordinance on working hours, breaks and holidays – can we allocate part of our working time?

With the State Gazette № 41 have been adopted amendments to the Ordinance on working hours, breaks and holidays. Its purpose is to refine the legislation regarding the calculation on working time in aggregate. The new changes shall be effective from 1 January 2018. They clarify the way in which the regime of aggregated working [...]

Country-by-Country Reporting in Bulgaria – welcome to the Era of transparency in reporting

On 31th of October 2017, the Executive Director of the NRA with an official Order has set clear rules on Country-by-Country Reporting for companies belonging to multinational groups of companies. What is Country-by-Country Reporting: Country-by-Country Reporting (CbCR) is more than just another compliance burden. The CbCR therefore refers to tax planning strategies used [...]