April 2012

Investment Activity In the Manufacturing Sector – Interesting Statistics

2018-03-20T15:54:46+02:00April 17th, 2012|Accounting, Consulting, Doing Business in Bulgaria, Taxation in Bulgaria|

The investment business survey, conducted by the National Statistics Institute among manufacturing companies during the second half of March 2012, provided information for the realized by them investments in 2011and also their investment plans for the present year. In 2011 the expenses for acquiring tangible and intangible fixed assets in the manufacturing sector are with [...]

January 2012

Year-End Closure and Publishing the Financial Statements for 2011

2012-01-26T10:24:39+02:00January 26th, 2012|Accounting, Bulgarian Laws in English, Bulgarian Tax Guide, Doing Business in Bulgaria, Questions & Answers, Taxation in Bulgaria|

It is the beginning of the year and according the Chapter 5 from the Accounting Law every single Bulgarian company is obliged to complete the year end closure and to prepare and publish its financial statements. The deadlines for the above mentioned obligations are the following: - for the submission of the Annual Tax Returns [...]

March 2011

Corporate Income Tax Bulgaria /CIT/ – Taxable base for CIT purposes

2011-03-25T10:19:51+02:00March 25th, 2011|Bulgarian Tax Guide, Consulting, Doing Business in Bulgaria, Outsourcing, Taxation in Bulgaria|

The taxable income of the Bulgarian company would be subject to Bulgarian CIT of 10% (flat rate) levied on the annual taxable profit of the Bulgarian company for the respective fiscal year. The fiscal end financial year in Bulgarian coincides with the calendar year. The taxable result of the Bulgarian Company would be its annual [...]

The Accounting services in Bulgaria – what to expect and what to require?

2018-03-20T15:54:52+02:00March 23rd, 2011|Accounting, Consulting, Doing Business in Bulgaria|

Believе or not, but in Bulgaria there are very well qualified and solid experienced companies that provide unbeatable accounting services to foreign investors, comparative only with the services provided by the Big 4 . Of course, like elsewhere, also in Bulgaria there is a chance to fall among unprofessional, but very quickly you will be [...]

Report on the changes in the Bulgarian Corporate Income Tax (CIT) Law in effective since 1st of January 2011

2018-03-20T15:54:52+02:00March 22nd, 2011|Accounting, Bulgarian Tax Guide, Consulting, Taxation in Bulgaria|

1. Correction of errors: Corrections of errors related to tax depreciable assets and errors in the transformation of the accounting financial result: • Equalization of the tax treatment of these errors with the general procedure to correct accounting errors, namely tax financial results for the past years are adjusted in accordance with relevant laws in [...]