Accountants Bulgaria: Who is Aidos?

Posted on October 31, 2011 by Aidos

Welcome to the website of Aidos – Accountants Bulgaria. We are a company dealing with the administration part of your business. Our services include: bookkeeping & accounting, payroll, VAT and tax preparation and company registrations.

We choose our website to be in a weblog format. In this way we are aiming to create a continuously refreshing and growing knowledge base. Below here you’ll find posts on topics related with doing business in Bulgaria, changes in the law, introductions of our clients and more, what we think may be of interest for you. By following the links in the right hand menu you can find more information about us, our services, or on specific subjects. When you feel something is missing just let us know and we will add it.

When you cannot find here what you are looking for, don’t hesitate to contact us or leave a comment on the website.

Thanks for visiting us here!

The Aidos team

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Buying Property in Bulgaria

Posted on February 14, 2012 by Henk

Buying property in Bulgaria is popular. But before doing so it’s worth reading the article below by James Flint, Sofia Casa.

Free Snagging Master-class! (Off-plan Residential Construction in Sofia)

Before I go to snag an off-plan property during the build or at completion stage I have a checklist of common defects that I have witnessed over and again during my 8 years on the job here in Sofia. I can almost guarantee that to some degree or other I will find many of the defects listed below when I go on site to perform due diligence for my clients. When I uncover a gem of a build that avoids most of these defects I am almost overwhelmed with admiration towards the Constructor/Developer as its such a rare occurrence and entails a lot of attention to detail planning and daily control on the site, sadly lacking on all to many off-plan builds here in Sofia, Bulgaria!

The checklist below is not light reading, no apologies there, it is designed to help buyer’s know what to look out for before they make final stage payment for handover on completion. Send your representative or go yourself armed with this checklist to inspect for defects and ensure that the state of completion is satisfactory. Get the developer to rectify as many defects as you can before you succumb to the lawyer or agent’s pressure to make you pay that last tranche!

Find the full article and checklist here.

For due diligence services in Sofia contact James Flint, Director, Sofia Casa Ltd.

HP: +359 (0) 897 684 208
Tel:+359 (0) 2 953 01 16
Fax:+359 (0) 2 953 01 16
Passion For Property!
@insidebulgaria
@sofiacasa

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National Revenue Agency introduces new PIN

Posted on January 11, 2012 by Henk

From today requests for a new personal identification number can be filed at the Bulgarian National Revenue Agency (NRA).

The new PIN is a 12- digit code and gives individuals and companies access to the databases of the NRA without the need of an electronic signature. You can for example check how your employer has declared your labor contract; at what salary you are insured, and for how many hours. More information will become available in the coming months.

The information will be accessible from February 2012. The form to request for your PIN can be found at the website of the National Revenue Agency here. You have to go in person to the office of the NRA where you are registered to get your PIN. The service is free.

When incorrect information is found, this can be declared to the NRA. After which the company who filed incorrect information will be checked.

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Re-registration companies in Bulgaria part II

Posted on January 09, 2012 by Henk

The deadline for re-registration of companies in Bulgaria has passed. (December 31, 2011)

The situation at the moment is that all companies registered in Bulgaria before January 1st 2008 which are not re-registered are being liquidated. Bank accounts are blocked, assets are frozen, and you cannot do any transactions with the company. Only payments to the National Revenue Agency and salary payments are being authorized.

It is not yet clear how this will develop exactly. But technically, the company ceases to exist and assets will be sold or auctioned. And the owner(s) will have to pay the costs of liquidation, estimated between 500 – 2000 BGN. The procedure for liquidation will take about 6 – 12 months.

When you are not sure if your company is re-registered you can check it in the Bulgarian trade register – http://aidosbg.com/2011/10/where-can-i-find-information-about-my-company-in-bulgaria/

Please keep in mind that when you have re-registered your company recently that you have to publish the financial statements from 2008 – 2011 within three months after the re-registration date.

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Cash payments in Bulgaria

Posted on January 07, 2012 by Henk

Law on restrictions of cash payments in Bulgaria

Cash payments in Bulgaria

 

 

 

 

 

 

On February 9th 2011 the Law on restrictions of cash payments in Bulgaria came into force. Payments in Bulgaria should only be done by bank transfer when;

  • The amount is equal or higher than 15’000 BGN;
  • The amount is under 15’000 BGN, but part of a contract with a total contract amount equal or higher than 15’000 BGN;
  • Payments in foreign currency, which has equivalent value equal or higher than 15’000 BGN

The law does not apply in case of;

  • Deposits and withdrawals to/from personal bank accounts;
  • Deposits and withdrawals to/from bank accounts by partners and first line family members of people with no or limited capabilities;
  • Transactions in foreign currency in cash by occupation;
  • Operations with banknotes and coins, which is part of the Bulgarian National Bank;
  • Replacement by banks of damaged Bulgarian banknotes and coins;
  • Payment of wages under the Labor Code.

When you have cash payments higher than 15’000 BGN, and you are not sure whether the above law applies contact us or your accountant to be sure. Violating this law will lead to fines from 25% to 100% of the total amount.

The complete Law on restrictions of cash payments in Bulgaria (in Bulgarian) can be found here: lex.bg

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