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. […]
Tax on plastic bags Since a few weeks in more and more shops the sellers ask you if you want a bag with your goods. The reason is not that we got environmental in Bulgaria all of a sudden but the government imposed a new eco tax on plastic bags. The new law is in […]
EC Pursues Infringement against Bulgaria on VAT Rules novinite.com The European Commission has issued an official request to Bulgaria to change its VAT legislation in order to ensure equality among entities working within the country and in the EU. Bulgaria has two months to bring laws in line with European Union legislation, after which the Commission will […]
Representative expenses On representative expenses such as; dinners, gifts, cloths, food and drinks, a tax of 10% has to be paid. The expense is, together with the paid tax, deducted from the companies’ taxable income. The VAT on these expenses cannot be offset nor claimed. The tax is due up to the 15th of the […]
Per the 1st of January 2011 the amendments on Law on Income Tax of Individuals are in effect. The amendments have been published in the State Gazette (Държавен вестник) number 94, 30/11/2010. The law affects companies paying rent to physical persons. As of the 1st of January 2011, companies who pay rent to physical persons […]