We will continue our previous post about the VAT registration types and VAT registration procedure of a Bulgarian company. If you have missed the first part please read it here first… 3. Registration procedure According to VATA, Art. 101: “The registration shall be carried out by submission of an application [...]
After the company has been established, it could be registered as VAT payer. The registration under the Bulgarian VATA is compulsory or voluntary. The National Revenue Agency of the Republic of Bulgaria creates and maintains special register under VATA. Along with the entry in the register the legal entities shall [...]
Personal income tax (PIT) and social security (SS) compliance: As of January 1st 2008 the PIT was reduced to a flat rate of 10%. It is levied on the gross amount of the salary decreased with the statutory social security contributions paid for the account of the employee. The aggregate [...]
Bulgarian tax legislation requires that transactions between related entities are carried out in line with the market principle and conditions (i.e. as if the parties involved were not related and market conditions applied). In view of the above all transactions between related parties (supply of goods and services, financing, etc.) [...]
The Bulgarian company registered under VAT is obliged to file with the authorities from the National Revenue Agency monthly VAT returns (together with purchase and sales ledgers), no matter if the Bulgarian company has executed any purchases or sales during a particular reporting period (the reporting period coincides with the [...]
