Low taxation, but compliance is essential Bulgaria is known for its low corporate tax rates, offering businesses a competitive 10% flat tax. This favorable tax environment has made Bulgaria a popular choice for foreign investors looking to open a company and run their operations efficiently within the EU. Unrealistic expectationsContinue Reading
Filing a tax return based on the work of an unreliable accountant in the past Here is our problem for today. A Bulgarian company has entrusted its accountancy to a person or to a company (we will call it the “bad accountant”) that has acted in bad faith. The badContinue Reading
The NEXO scandal brings bad news for the “regular tax dodgers” The people in Bulgaria are very well aware of the scandal that unveiled in recent weeks with the crypto platform Nexo. For those who are not aware of what happened though, as reported by Reuters, four Bulgarian nationals haveContinue Reading
The decisions of the Supreme Court, the importance of “intention” and “knowledge” and why a professional tax audit is a must… Negligence by many foreigners about their tax responsibilities in Bulgaria Foreigners doing business in Bulgaria often underestimate the consequences of fiscal non-compliance. Many tend to believe that eventual non-paymentContinue Reading
Tax evasion in Bulgaria and criminal responsibility Bulgaria enjoys the lowest EU flat tax rate of only 10%. But as is often the case, the coin has two sides. The dark side of the Bulgarian legislation is the ultra low level of tax evasion that triggers criminal responsibility. Anyone whoContinue Reading
The hardest thing in the world to understand is the income tax. Albert Einstein Taxes in Bulgaria – what to do when you get the taxman knocking on your door Everyone knows already that Bulgaria applies the lowest EU tax rate – 10% only. Both companies and individuals pay theContinue Reading
