For sellers

Company Accounts and Tax returns Company Accounts and Tax returns

Annual Accounts & Tax Returns for Bulgarian Limited Companies

 

We offer a wide spectrum of accountancy services to private owners, companies and corporations.

Company Annual Accounts: Foreign Owners of Property

 

Foreign owners of property who have bought land, villas or investment apartments often own 100% of the shares of a Bulgarian Limited company and it owns the property. This company must by law submit annual accounts (for 1st Jan – 31st Dec) every year by the 31st March of the following year. Even if the company has not traded and has not made a single transaction the accounts must still be submitted to the authorities. Like any accountancy issue this is best done by registered professionals.

Failure to submit accounts by the 31st March now results in fines ranging between 250 – 1500 Eurosdepending on the length of the delay. If you are late in submission it is best to instruct a consultancy to deal with the issue asap as it will simply cost more if left unresolved.

We can prepare and submit your company accounts for £150 including filing fees

If you are looking to re-register your company, you must bring the accounts fully up to date first, it if not possible to successfully re-register companies when there are outstanding fines, fees or accounts.

 

Corporate Accounts: Trading Companies

 

If you have multiple investments in Bulgaria which perhaps are being let out in return for rental income, we can assist with the accountancy of such structures and streamline your returns to be more tax efficient. It is possible to register your firm for VAT and claim back VAT amounts, this is especially true when the purchase is not concluded and perhaps is still in an off plan stage. These funds can then be reinvested into additional properties, expand the portfolio and bring in further income. Naturally, as a commercial enterprise the VAT can be legitimately claimed back from these purchases too.

Every corporate structure is different, please contact us to discuss your situation.

 

 

Personal Tax on Rental Income:

Individuals renting property

 

If you are making a rental return on your investment in Bulgaria and taking an income from it there, then it is likely that some taxes will be due or at least a ‘nil return’ will need to be filed on your behalf. If you are looking to pay that tax in Bulgaria then we can assist with the correct filing and structuring of personal tax returns within the territory of Bulgaria and relevant to the Bulgarian Treasury only.

We typically complete annual personal tax returns for 100 Euros only

Every individual case is different, please contact us to discuss your situation.

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