You can fine our Terms & Conditions in Bulgarian here: Общи условия на Аидос
Terms and Conditions Aidos Ltd.
Table of Contents
- Introduction
- Our Services
- Communication and Response Times
- GDPR Compliance
- Client Identification and Verification
- Accounting
- Payroll
- Confidentiality
- Liability
- Force Majeure
- Fees and Payment Conditions
- Termination of Services
- Complaints Procedures
- Applicable Law
1. Introduction
These terms and conditions outline the general principles and operational framework of Aidos Ltd, governing the provision of our services. By engaging our professional services, you acknowledge having read, understood, and agreed to abide by these terms.
We reserve the right to revise these Terms of Service periodically, including but not limited to yearly updates, changes due to alterations in state laws or regulations, shifts in economic circumstances, or at our sole discretion. In the event of such revisions, we will inform you and provide a 60-day notification period for your acknowledgment and acceptance. These terms and conditions constitute an integral part of the Individual Agreement signed for services provided by Aidos Ltd.
2. Our Services
Aidos Ltd is a duly registered entity listed in the Trade Register and Register of Non-Profit Legal Entities under the jurisdiction of the Registry Agency in the Republic of Bulgaria. Our services encompass organising accounting reporting, compiling annual, interim, and other financial reports in compliance with the Accounting Act of the Republic of Bulgaria, along with providing accounting services, financial and tax consultations, representation of legal entities, and any other related commercial activities not prohibited by law. It’s pertinent to note that Aidos Ltd is not registered as an auditing company.
3. Communication and Response Times
Effective communication is paramount for seamless cooperation. It is imperative that you furnish and maintain accurate documentation and information throughout the duration of our engagement. Primary communication channels will be electronic via email, with original documentation expected to be sent via post. Timely receipt of your documents and information is critical to adhere to state-imposed deadlines. While we strive to ensure prompt handling of your materials, delays may occur due to various reasons, such as misdirection or interception by third parties. Upon sending any documentation, it is your responsibility to confirm receipt promptly.
Aidos Ltd. is committed to providing timely service to our clients. Under normal circumstances, we aim to respond to client requests within two (2) working days. However, response times may vary depending on the volume and complexity of the request. We will do our best to provide an estimated timeframe for a full response if it is anticipated to exceed two working days.
Our contact details for correspondence are as follows:
Address: City of Sofia 1000, Bulgaria Sredets area, 37 William Gladstone street Phone: + 359 2 981 30 82.
For added security, please include the email address of your accountant or payroll specialist in the CC field.
4. GDPR Compliance
We affirm our compliance with Regulation (EU) 2016/679 of the European Parliament and of the Council (the Regulation) concerning the protection of individuals regarding the processing of personal data and the free movement of such data. All processing of personal data is conducted in accordance with the principles and definitions stipulated in the Regulation, ensuring lawful, fair, and transparent processing, coupled with appropriate security measures to safeguard against unauthorised or unlawful processing.
In the event of any breach related to the processing of personal data, the concerned party is obligated to notify us promptly for appropriate action and resolution. Our GDPR Policy can be accessed https://aidosbg.com/aidos-policy-on-gdpr/. Additionally, a Data Processing Agreement (DPA) will be required to be signed separately from our Accountancy Contract.
5. Client Identification and Verification
In compliance with anti-money laundering measures, Aidos Ltd is obligated to identify and verify its clients before commencing services. Clients are required to furnish necessary information and documentation for this purpose before service initiation.
6. Accounting
Aidos Ltd strictly adheres to statutory deadlines and terms, contingent upon whether the Company is registered for VAT. For VAT-registered companies, monthly declaration deadlines fall on the 14th of each month following the previous month, with VAT payments due by the same date. Documentation for the preceding month must be provided to Aidos Ltd no later than the 5th of the following month to facilitate timely processing. Documents received after the 6th may incur additional charges for express services, determined at a minimum of 25% of the monthly fee or minimum EUR 100 (exclusive of VAT).
Documentation for the preceding yearly tax report must be provided to Aidos Ltd. not later than the 30th of April of the following year to facilitate timely processing of the annual reports.
For companies not registered for VAT, monthly document provision is also expected to monitor turnover for potential VAT registration. The Company Assignor is obligated to immediately inform Aidos Ltd before reaching a turnover of 166,000 BGN lev over a period of 12 months. Failure to provide documentation on time for turnover assessment absolves Aidos Ltd of liability for any resulting penalties or actions undertaken by state authorities.
Deadlines for annual reporting and tax payments are stipulated as follows:
- Freelancers: April 30th for the previous year
- Non-activity declaration: June 30th for the previous financial year
- Corporate tax payment: June 30th for the previous year
- Advance corporate tax payment: December 1st for the current tax year
- Annual reports publication: September 30th into the Trade Register and Register of Non-Profit Legal Entities.
7. Payroll
Upon hiring an employee, a signed labour contract (in some cases, a civil contract) is required. To ensure timely preparation and registration, please provide all necessary information for the contract at least three working days before the intended start date. Various obligations and responsibilities must be fulfilled in accordance with specified legal terms, including but not limited to:
- a) Registration of the labour contract within 3 days after signing, prior to commencing the job;
- b) De-registration of the labour contract: * By mutual agreement: Please provide all necessary information at least three working days in advance so we can prepare the required documents. * With a one-month written notice: Please inform us as soon as the notice is given to the employer.
- c) Submission of declarations related to hired personnel and social security payments by the 25th of each month;
- d) Submission of sickness leave notifications: Please send the sickness leave document to us as soon as it is issued to the employee or up to two days after the absence from work.
- e) Submission of the following documents: * Income certificate(s) from the previous employer(s): Please send these to us in the first week of December or earlier, as soon as they are issued. * Declarations for Kids Tax relief: Please send these to us in the first week of December.
- f) A1 Certificate and the Certificate for Double Taxation: Please send these to us as soon as possible.
- g) Quarterly declarations under article 55 of the Law of Taxes over Incomes of Physical Persons.
- Timely submission of payroll documentation is crucial to avoid potential fines from state authorities. Failure to provide required information within the specified deadlines may result in an additional charge of 25 EUR (exclusive of VAT) per person on payroll.
8. Confidentiality
All communication between the parties shall be treated as confidential. Both parties agree to maintain the confidentiality of all information exchanged, except when disclosure is required by law, state authorities, or regulatory bodies. In such cases, the disclosing party shall promptly inform the other party.
This confidentiality obligation shall also extend to any subcontractors engaged by either party.
9. Liability
The contract and services provided by Aidos Ltd are exclusively for the client’s use and benefit, and Aidos Ltd shall not be held liable to any third parties. Aidos Ltd bears no liability for actions predating the commencement or following the termination of the contract, nor for any losses, damages, or costs incurred in the course of the client’s business activities or non-compliance with regulatory obligations.
Aidos Ltd shall not be liable for the client’s state taxes, social security obligations, or any penalties arising from the client’s failure to fulfil statutory obligations or provide timely documentation. Clients must inform Aidos Ltd promptly to ensure compliance with legal deadlines related to hired personnel.
10. Force Majeure
Neither party shall be liable for delays or non-performance caused by circumstances beyond their reasonable control, such as natural disasters, war, or government actions. The affected party shall notify the other party promptly and take reasonable steps to resume performance as soon as possible.
11. Fees and Payment Conditions
Our fees are determined based on various factors, including the client’s company status, monthly or annual workload, document volume, personnel requirements, and any special reports or tasks such as independent audits. The specific terms of payment and monthly accountancy fee will be detailed in your individual accountancy contract. All fees and amounts mentioned in this document are exclusive of VAT.
Should you require additional services beyond the agreed regular monthly accountancy, such as specific consultancy on an hourly basis or assistance with document issuance or bank support, these services will be provided only after prepayment has been agreed upon.
In urgent cases where meeting legal deadlines is imperative to avoid potential fines, Aidos Ltd. may undertake work outside of regular working hours for an additional fee. This fee will be estimated based on the following options:
- Hourly rate: 75 Euro (exclusive of VAT) per hour
- 25% of the monthly fee (exclusive of VAT)
- Agreed extra payment in total for the work (exclusive of VAT)
For yearly accountancy fees, payment must be made upfront by January 31st of the servicing year. For monthly fees, payment is due on the 5th of the month for which services will be rendered, unless otherwise specified in your individual contract.
In the event of delayed payment, Aidos Ltd. reserves the right to charge lawful interest from the first day of delay. The lawful interest for delay is 10% plus the base interest rate of the Bulgarian National Bank.
Our fees cover compliance with legal requirements for accountancy and payroll services. However, they do not include fees for legal or tax consultations, specific matter consultations, administrative procedures, or licences required by the specific nature of your business activity.
Adjustments to the monthly fee may be made based on changes in the company’s workload. Any such adjustments will be promptly communicated and implemented after signing a mutual Annex to your individual contract.
Aidos Ltd. reserves the right to update the monthly accounting fee agreed with an individual contract in the direction of the growth in the average salary according to the location of its activity.
Annual adjustments to the monthly accountancy fee will be made starting from January 1st of the following year, based on the official inflation rate for the preceding 12 months until the end of November. Immediate adjustment to the fee will occur if the inflation rate reaches 10% or more since the last signed annex between the parties.
Please note that administrative fees for tax consultations and administrative services are not included in the monthly accountancy services for the year 2024:
- Tax consultations: 150 EUR (exclusive of VAT) per hour
- Administrative services: 75 EUR (exclusive of VAT) per hour, or agreed package fee
12. Termination of Services
The provision of accountancy services may be terminated by mutual agreement between the parties. In such instances, a Termination Agreement will be signed to outline the completion of outstanding tasks, deadlines, and procedures for handing over documentation and information.
Either party may initiate the termination of services by providing a pre-notice period. However, Aidos Ltd. reserves the right to terminate the contract and cease servicing without prior notice in certain circumstances, including:
- Non-receipt of remuneration: In cases where remuneration has not been received for two months, termination will be immediate.
- Non-receipt of required documentation or information mandated by Bulgarian laws.
The specific conditions for termination will be detailed in the individual contract between the parties.
Clients or contractors may also initiate the termination of services by providing a pre-notice period, with a minimum of three months, unless otherwise agreed upon in the contract.
Aidos Ltd. retains the right to refuse to accept clients or terminate services with pre-notice if the company’s activities are deemed to be in contradiction with moral norms, generally accepted human values, or normal human behaviour.
13. Complaints Procedures
Clients with complaints are encouraged to communicate them via email to Aidos Ltd’s management, detailing the nature of the issue (email: [email protected]). We strive to resolve complaints amicably and promptly, prioritising client satisfaction and constructive resolution.
14. Applicable Law
Aidos Ltd operates under Bulgarian law, and all services, agreements, and engagements are governed accordingly. Disputes and claims arising from these terms shall be exclusively resolved by Bulgarian courts.
Note: All fees and amounts mentioned in this document are exclusive of VAT.
Last updated: (November 2024)