Accountants Bulgaria: Who is 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.

Thanks for visiting us here!

The Aidos team

Aidos Accounting Bulgaria

 

VAT in Bulgaria

VAT in BulgariaVAT in Bulgaria

Newly registered companies do not automatically enter the VAT system; your company has neither obligations nor rights concerning VAT in Bulgaria.

Registering for VAT becomes compulsory when;

  • Your company has more than 50’000 BGN turnover over the last 12 months.
  • Your company has business outside of Bulgaria. You send invoices to countries other than Bulgaria.

You can voluntarily register your company for VAT at any time and at any turnover. This option is preferable for most companies.

  • The VAT rate in Bulgaria is currently 20%.
  • The VAT on Tourism services is 9%.
  • The VAT on deals in most other EU-countries is 0%.

For information on other taxes in Bulgaria check here: Taxation in Bulgaria

Taxation in Bulgaria

Taxation in Bulgaria

Taxation in Bulgaria
The overview below is just a summary of the most common taxes and VAT in Bulgaria. For detailed information you can check the websites of the National revenue agency (NRA) and Invest Bulgaria Agency or contact us when you have any further questions.

Corporate tax – 10%
The taxable profit has to be declared before March 31 of the following year.

Personal income tax – 10%

Tax on dividend – 5%
The tax has to be paid within a month after the dividend has been remitted.

VAT – 20%
Companies with activity only in Bulgaria and a yearly turnover of less than 50’000 BGN are not obliged to register for VAT.

VAT Tourism – 9%

Acts
The taxation is organized in the following acts;

–          Corporate Income Tax Act (CITA)
–          Personal Income Tax Act (PITA)
–          Value Added Tax Act (VATA)

Bulgaria Ups Its Minimum Wage to BGN 270

Starting Thursday, the minimum monthly wage in Bulgaria grows from BGN 240 to BGN 270 (EUR 137).

According to the country’s Finance Minister Simeon Djankov, the minimum wage rise will cost its state budget approximately BGN 15 – 20 M. However, the private sector’s expenses will be much higher, the Dnevnik daily points out.

Some 120 000 Bulgarians officially receive minimum wage in Bulgaria, according to the country’s National Statistical Institute. A total of 20 000 of them are on a state payroll.

Also starting Thursday, the retirement allowances for widows and widowers in Bulgaria increase from 20% of the deceased spouse to 26.5%.

According to a recent study conducted in the Sofia-based University of National and World Economy Bulgaria will need 41 years to reach the minimum wage rates of EU’s most advanced countries.

Currently, the minimum wage in the country is nearly half of the amount of money deemed by the National Statistical Institute as necessary for an individual to survive a month in “normal” conditions.

source: novinite.com