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Submitting tax returns
 
 
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mestala
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Joined: Aug 14, 2012
Posts: 623

Location: yambol

PostPosted: Mon Jan 29, 2018 10:46 am 
Post subject: Submitting tax returns
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Hi all
Well,not that it matters to me anymore,but a friend has told me who is still over there that you no longer will be required to submit accounts for a non trading company.
Apparently you still have to file a financial report through an accountant,at very little cost.He says he has been quoted 30lv for that.
I was in the Yambol area as many know.Mine were done through an independant accountant at reasonable cost.
Anyone who couldn't be bothered to find one had them done through estate agents.
One particular one,''Bulgarianrealestatesonline'' in Yambol was one of probably many who were,shall we say,taking the p!ss Wink ,charging stupid money.
Now anyone who is reading this who knows of anyone who deal with agents,don't bother.They will probably tell you different,but be carefull what you hear from them Wink .
As costs go up everywhere,BG included,save yourself some hard earned cash and as they say...USWITCH...COMPARETHEMARKET... Laughing
If anyone has heard any different,please tell all your fellow expats...don't just keep it to yourself
  
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Seedy
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Joined: Feb 21, 2012
Posts: 6363

Location: Sofia, Dupnitsa, Lincs

PostPosted: Mon Jan 29, 2018 10:49 am 
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Knowledge is power, Steve! If the wolves didn't have sheep to prey on they'd up their game and become an annoyance for the rest of us.... Wink
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ChrisF
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Joined: Feb 21, 2012
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Location: VELIKO TARNOVO

PostPosted: Mon Jan 29, 2018 12:20 pm 
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Yes, it has been suggested that non-trading companies should not have to submit accounts but,as far as I am aware, the law has not yet been changed so you still have to submit them.
But definitely yes, shop around. My accountant, a fully qualified lady, does accounts for non-trading companies for 50 leva
  
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Seedy
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Joined: Feb 21, 2012
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Location: Sofia, Dupnitsa, Lincs

PostPosted: Mon Jan 29, 2018 12:45 pm 
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ChrisF wrote:
My accountant, a fully qualified lady, does accounts for non-trading companies for 50 leva


Does that include the "full service": preparing the accounts, submitting them etc? If so, is she looking for any more clients? Wink
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ChrisF
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Location: VELIKO TARNOVO

PostPosted: Mon Jan 29, 2018 12:53 pm 
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That is for everything. She is in Veliko Tarnovo but I can provide a phone number if anyone wants it  
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Seedy
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Location: Sofia, Dupnitsa, Lincs

PostPosted: Mon Jan 29, 2018 2:15 pm 
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Yes, please - can you PM me? Smile
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mestala
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Joined: Aug 14, 2012
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Location: yambol

PostPosted: Mon Jan 29, 2018 5:37 pm 
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ChrisF wrote:

Yes, it has been suggested that non-trading companies should not have to submit accounts but,as far as I am aware, the law has not yet been changed so you still have to submit them.
But definitely yes, shop around. My accountant, a fully qualified lady, does accounts for non-trading companies for 50 leva


It is true that nothing yet has been officially announced,but I was told today that the announcement will come next month sometime.....just ask your own accountant,but there again,with BG being BG,will you get the truth Wink...in most cases,maybe not Rolling Eyes
  
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Bulgariabill
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PostPosted: Wed Jan 31, 2018 7:00 am 
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This received from my accountant earlier this month if it helps.

starting from 1st of January 2018 the Tax Returns of companies will be submitted only online.

Other amendments to the Law on Corporate Income Tax of Bulgaria were published in the end of 2017 and according to those amendments:

Starting from 1st of January 2018 Bulgarian companies that have not performed activity according to the Accountancy Law do not submit Tax Returns and Annual Report on activity.

Instead of those accountancy reports, such companies /i.e. companies with no activity/ are obliged to publish a declaration about lack of activity at the Commercial Register.

To the present date /15th of January 2018/ there are no amendments made to the Law on Commercial Register and the Register of Non-Profit Legal Persons, which means that the exact form of the declaration about lack of activity is not yet specified but according to the official information there will be no fee of the register for publication of such declaration.

Companies that had no activity during 2017 are obliged
:
- To submit a Declaration about lack of activity /statistical declaration/ to the National Statistical Institute no later than 2nd of April 2018;
- To publish a Declaration about lack of activity for 2017 at the Commercial Register no later than 31st of March 2018.
Note: those Declarations about lack of activity are different documents and for now we cannot confirm that the declaration that should be published at the Commercial Register will look the same as the Declaration that should be submitted to the NSI.

According to the Accountancy Law companies that performed no activity during the reported period are those are enterprises that SIMULTANEOUSLY meet the following conditions:
a) during the reporting period the company has not performed deals under art. 1, para. 1 of the Commerce Act, i.e. the company has not purchased items and goods for the purpose of resale in original or processed form;
b) during the reporting period there were no conditions for recognition of an income under the Accountancy Act and the applicable accounting standards;
c) the company did not perform any activity relating to investment, production and/or sale;
d) the company did not purchase goods and services for the purpose of obtaining of income and profits.
  
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Xanthos
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Joined: Sep 15, 2016
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Location: UK p/t + Bg p/t; Bg f/t in 09/17

PostPosted: Mon Feb 05, 2018 1:52 pm 
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Bulgariabill wrote:
This received from my accountant earlier this month if it helps.

starting from 1st of January 2018 the Tax Returns of companies will be submitted only online.

Other amendments to the Law on Corporate Income Tax of Bulgaria were published in the end of 2017 and according to those amendments:

Starting from 1st of January 2018 Bulgarian companies that have not performed activity according to the Accountancy Law do not submit Tax Returns and Annual Report on activity.

Instead of those accountancy reports, such companies /i.e. companies with no activity/ are obliged to publish a declaration about lack of activity at the Commercial Register.

To the present date /15th of January 2018/ there are no amendments made to the Law on Commercial Register and the Register of Non-Profit Legal Persons, which means that the exact form of the declaration about lack of activity is not yet specified but according to the official information there will be no fee of the register for publication of such declaration.

Companies that had no activity during 2017 are obliged
:
- To submit a Declaration about lack of activity /statistical declaration/ to the National Statistical Institute no later than 2nd of April 2018;
- To publish a Declaration about lack of activity for 2017 at the Commercial Register no later than 31st of March 2018.
Note: those Declarations about lack of activity are different documents and for now we cannot confirm that the declaration that should be published at the Commercial Register will look the same as the Declaration that should be submitted to the NSI.

According to the Accountancy Law companies that performed no activity during the reported period are those are enterprises that SIMULTANEOUSLY meet the following conditions:
a) during the reporting period the company has not performed deals under art. 1, para. 1 of the Commerce Act, i.e. the company has not purchased items and goods for the purpose of resale in original or processed form;
b) during the reporting period there were no conditions for recognition of an income under the Accountancy Act and the applicable accounting standards;
c) the company did not perform any activity relating to investment, production and/or sale;
d) the company did not purchase goods and services for the purpose of obtaining of income and profits.


Very helpful, many thanks for sharing Wink
  
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Basil
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Joined: May 13, 2018
Posts: 5


PostPosted: Fri Jun 22, 2018 3:51 pm 
Post subject: ChrisF wrote
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ChrisF wrote:
That is for everything. She is in Veliko Tarnovo but I can provide a phone number if anyone wants it


Cam you also please provide the number for me.

Regards
Martin
  
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plevenite
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Joined: Apr 16, 2016
Posts: 376


PostPosted: Sun Jun 24, 2018 5:38 am 
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Thank you. That is worth knowing.  
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