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
Or why you should NOT trust an “international lawyer/consultant” in Bulgaria DISCLAIMER: The story, all names, characters, and incidents portrayed in this article are fictitious. No identification with actual persons (living or deceased), places, buildings, and products is intended or should be inferred. This is a story that once againContinue 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
Bitcoin has gone mainstream. And Bitcoin knows no borders. But are there any particular things to consider when it comes to dealing with BTC in Bulgaria? Spread margins in Bulgaria – way too high Buying and selling BTC through Bulgarian intermediary is expensive, very expensive. At times, the spread betweenContinue Reading
We will take care to process all your accountancy documents (invoices, etc.) and to file on time 100% compliant VAT declarations every month… Euroformat.eu Value Added Tax (aka VAT) is one of the worst understood tax areas, but the one that matters the most. VAT in Bulgaria is 20% andContinue Reading
Distribution of dividends in Bulgaria can be done only once per year. There are however legal options to distribute part of the profit more frequently… Euroformat.eu By law, dividends in Bulgaria are distributed only after the end of the financial year. This is when the shareholder sign the financial reportContinue Reading
We will take care for your all-year-round accountancy. At the end, we will prepare and submit your annual tax returns, so you can be 100% legally compliant… Euroformat.eu Annual returns are due in Bulgaria as follows: March 31st – for companies; April 30th – for private individuals. From 2018, theContinue Reading
Virtually all taxes that your Bulgarian LTD owes to the National Revenue Agency may be now passed on to you, as shareholder or director. We use the term “may” as this possibility was enacted in the law during the second part of 2017. From 2020 however, we would rather useContinue Reading
How are seafarers taxed in Bulgaria In many countries, seafarers enjoy preferential tax treatment, compared to those who work on-shore. Bulgaria is no exception. Since 01.01.2010 the Bulgarian legislation foresees different tax regime to seafarers for their income from employment relations. So let’s dig into the legal details below. WhoContinue Reading
