At Sb Accounting & Consulting, we deliver a comprehensive tax compliance, planning and advisory service to a wide range of business. Even further, we are our clients’ trusted advisor who helps them to minimise their tax exposure and eventually improve their bottom line.
We have practical experience, considerable knowledge and in depth understanding of Bulgarian taxation and its implications.
We are aware that our clients require well thought plans that address their situation as a whole and that every client’s case is different. This is why we don’t have a general answer to clients’ inquiries but we always generate tailored solutions in accordance with the specifics and unique circumstances of each particular case.
We can support you in the following areas:
- Tax planning and assessing of residents’ corporate tax exposure, income tax due date as well as annual tax assessment in connection with the year-end closure of accounts and annual income tax return
- Assistance to residents for tax on self-employment, social security tax brackets, due date for income tax and annual tax return for self employed individuals
- Consultations on Bulgarian VAT Tax Act, the applicable VAT in Bulgaria, VAT registration and preparation of monthly VAT tax returns
- Acting as a Bulgarian VAT agent for claiming VAT refunds in Bulgaria
- Representation before the national institutions for taxes of non-residents for withholding taxes and taxes on dividends, submission of non-resident tax returns, income tax on foreign income, payment of tax on income from shares and income tax on dividends
- Estate planning, property tax services, inheritance tax and inheritance tax rates, advices about withholding tax, taxes withheld from Bulgaria, withholding treaty and corporations tax
General tax rates in Bulgaria:
- Corporate Income Tax – 10% on the annual net income
- Tax on dividends – 5% * Dividends payable to a legal entity that is a tax resident in an EU / EEA member state are exempt from withholding tax
- Tax on interest – Interest paid to a non-resident is subject to a 10% withholding tax unless the rate is reduced under a tax treaty
- VAT – 20% standard rate. Exports and intra-community supplies are zero-rated. VAT on hotel accommodation services is at the rate of 9%
- Personal Income Tax – 10% on the generated personal worldwide income for residents. Nonresidents pay tax only on their Bulgarian-source income
- Maximum insurance base on which contributions are due: 2,600 BGN per month.