Doing Business in Bulgaria

This section of our blog is dedicated towards giving the best possible tip’s for foreign investors in Bulgaria.

October 2017

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

2017-11-28T06:53:56+02:00October 26th, 2017|Accounting, Bulgarian Tax Guide, Consulting, Doing Business in Bulgaria, Taxation|

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 [...]

Important: From January 2018, the CIT declarations in Bulgaria shall be submitted only online via electronic signature

2017-10-25T12:31:51+03:00October 23rd, 2017|Bulgarian Tax Guide, Consulting, Doing Business in Bulgaria, Taxation|

Dear Clients and Partners, A major change has been implemented by the Bulgarian Tax Authorities and it is in respect to the online submission of the Annual tax returns for all companies under the CIT Law. Starting from 1st of January 2018, all legal entities should submit their Annual tax returns for 2017, ONLY via [...]

Secondment or sending of employees to another country for provision of services

2018-03-20T15:54:45+02:00October 16th, 2017|Bulgarian Laws in English, Changes in Legislation, Doing Business in Bulgaria|

Dear Clients and Partners, Herewith, we would like to highlight for you some new rules for a certain type of business trips abroad according to Bulgarian legislation - the so called secondment or sending of factory or office workers for provision of services. Such trip occurs when a Bulgarian employer seconds or sends a factory [...]

September 2017

News by the NRA – amendment to tax return needed in case of an error regarding hidden distribution of profits

2018-03-20T15:54:45+02:00September 25th, 2017|Doing Business in Bulgaria, Taxation|

Dear Clients and Partners, With the below listed, hereby we would like to highlight the latest news distributed by the National Revenue Agency in regards to the declared petty cash availabilities into the Balance sheets of the companies, published their Financial reports for year 2016.  Kindly be aware, that If the amount stated in the financial statement as a [...]

Finally the right to acquire farm land in Bulgaria from EU and EEA citizens is granted

2018-03-20T15:54:45+02:00September 18th, 2017|Bulgarian Laws in English, Bulgarian Tax Guide, Changes in Legislation, Doing Business in Bulgaria|

Dear Clients,   Sb Team is delighted to highlight for you a significant opportunity that stands before you. It arises from the fact that EU and EEA citizens and companies have the right to acquire real estate in Bulgaria.   In this regard, kindly note that there are no more limitations for acquiring properties in [...]