The year is getting to an end and we are getting ready for the, traditionally busy, first months of the coming year preparing the annual tax returns 2011.
For companies in Bulgaria the deadline for filing the annual tax return is March 31, 2012. Individuals file their personal income tax return before April 30, 2012. Check with your accountant when you are in doubt whether you are obliged to file a personal income tax return. Basically this is the case when you have income generated other than from a labor contract. When individuals submit the annual tax return and pay the tax up to 10th February 2012, there will be 5% discount over the tax amount.
Besides filing annual tax returns, companies have to publish their financial statements at the Bulgarian Registry Agency. Sole proprietor (ET) publish their financial statements before May 31, 2012. For Ltd’s (EOOD/OOD) the deadline is June 30, 2012. For Jsc. (AD)The deadline is July 31st 2012.
When you want to know what the status of your company is then this would be a good time to check with your accountant.
I own (For the last 6 Years) an apartment in Bulgaria and would like to Know what if any taxes I need to pay to the Government, and how I go About paying.
Owners of property in Bulgaria shall pay every year local taxes to the municipality in which the property is located.
Within 2 months after the property acquisition, the owner shall declare the property in the relevant municipality.
There are 2 types of taxes which shall be paid – tax on the building and garbage fee. Every municipality has its own tax rates.
If you didn’t declare the property, there shall be paid penalty because it is not done on time. If you didn’t pay the taxes, there will be interest for delay of the payments.
Is you as individual owner of the property or you have established a company in BG and the company is the owner?
If you didn’t declare the property, it is not possible to check how much you owe to the state. First it has to be declared.
If you have declared it, it can be checked if you know the identification number of the owner of the property /yours or company’s number/ and in which municipality the property is located.
The taxes can be paid by bank transfer with special payment orders to the government.
As well as if you have given the property for rent, you have to declare the income from the rent and to pay taxes over it.