…but in this world nothing can be said to be certain, except death and taxes.Benjamin Franklin
The flat 10% tax rate phenomenon of Bulgaria
Utilizing the most favorable tax regime in the EU
Taxes in Bulgaria are low. So low in fact, that many consider Bulgaria to be the offshore center within the EU. No wonder that in Bulgaria there are already more foreign businesses, registered as Bulgarian entities, than in many well-known international financial centers.
Optimize your tax load by applying the lowest EU tax rate
In order to benefit from the Bulgarian tax system, you will most probably need professional assistance in order to meet the legal, accounting and filing requirements in Bulgaria. By assigning us to provide you the relevant support, we will ensure that your company bookkeeping is held up to the highest standards and all legal requirements are met.
High turnover solutions
If you expect significant number of transactions and volumes, we will discuss together your requirements and will determine the best legal approach and optimal cost solution. Taking advantage of the extremely low corporate tax rate of 10% in Bulgaria, you can be certain that you will strongly benefit from the use of your Bulgarian enterprise.
We will define a detailed set of procedures, covering your company’s invoicing and expensing activities in order to guarantee the seamless flow of your operations.
We help you with all regulatory requirements as well. Depending on the organization, size and the objectives of your business or capital protection requirements, it is often the best option to assign to our accounting professionals to take care of your accountancy on a turnkey basis. By doing so, you can rest assured that we will maintain strict privacy and confidentiality policy and will guarantee the security of your data as per the strict rules of the GDPR standard. All electronic records are kept by us in encrypted form using industry standard AES encryption.
Outsourcing your accounting processes to us reduces the associated costs and saves you a lot of time and effort. You can focus on the core issues of your business, while we take care of your accountancy and compliance matters.
Our tax related services at a glance
While you should visit the accountancy section of our website for more detailed information about our professional accounting and administrative support services, please find below the main areas of support that we will provide you with:
- Proactive and personalized bookkeeping assistance;
- Complete tax and VAT compliance;
- Tax modeling, planning and professional legal tax advice;
- Payroll processing assistance;
- Management reporting;
- Intercompany reporting;
- Central bank reporting assistance;
- Audit advisory;
- Business operations initiation and establishment advice;
- Bank accounts management assistance;
- Social securities contributions management;
- Statistical reports submission assistance;
- Tax declarations preparation and submission.
Bulgarian taxation from international perspective
Complicated tax rules
Doing business through a foreign company requires deep knowledge of the relevant tax and legal frameworks. Bulgaria is no exception to this rule. Applying the Bulgarian tax codes is not an easy and straightforward procedure even when it comes to Bulgarian owned and managed entities. Add some international scent and everything becomes much more complicated. One has to know how to correctly apply the double-tax avoidance treaties, dividend distribution policies, taxes at source that are being applied in some cases, VAT regulations, and much more.
Peace of mind
With our assistance, you will have the full reassurance that all your operations in Bulgaria are 100% legal. Tax compliance becomes much more important (even crucial) and one should definitely not cut any corners in respect to it.