documents

Много са случаите, в които майки докато са в отпуск за отглеждане на дете до навършването на 2 годишна възраст считано очакват и своето второ дете.

В тези случаи майките се интересуват от това какви документи трябва да подадат до своя работодател и как е регламентирано изплащането на обезщетението за първото дете до навършването му на 2 години.

Други засягани въпроси са:
Достатъчно ли е болничния за 45 дни преди раждането да се даде на работодателя, за да се отрази коректно майчинството?
Болничния лист прекъсва ли автоматично отпуската ми за отглеждане на първото дете или трябва да подам и някаква декларация?

Друг важен въпрос е спира ли се изплащането на обезщетението за първото дете до навършването му на 2 години?

Ето тук накратко разясняваме точно тази ситуация:

Болничният лист е акт, който се издава от наблюдаващия лекар от Женска консултация за отпуск за временна неработоспособност поради бременност и с издаването му се прекъсва отпускът по чл. 164, ал. 1 от КТ, който работодателят Ви е разрешил, Вие ползвате и за този период се изплаща парично обезщетение за отглеждане на малко дете на основание чл. 53 от КСО.

Прекъснатият отпуск за отглеждане на малко дете е промяна в обстоятелствата, която води до спиране изплащането на паричното обезщетение на основание чл. 53 от КСО и от този ден възниква правото Ви на парично обезщетение за отглеждане на малко дете на основание чл. 54 от КСО до навършване на 2 годишна възраст на детето.

За правилно изплащане на дължимото парично обезщетение е необходимо да се подадат следните документи:
1. В тридневен срок от началото на болничния лист за 45 календарни дни осигурителят да представи в съответното за него ТП на НОИ удостоверение, приложение № 10 за промяна в обстоятелствата, прекратен отпуск по чл. 164, ал. 1 от КТ, водеща до спиране на изплащаното обезщетение на основание чл. 53 от КСО считано от началната дата на болничния лист.
2. За изплащане на парично обезщетение в нормативно определените срокове осигурителят представя удостоверение, приложение № 9 към болничния лист с причина “14-Бременност”.
3. За изплащане на парично обезщетение за отглеждане на малко дете на основание чл. 54 от КСО в нормативно определените срокове осигурителят представя удостоверение, приложение № 10, въз основа на представено при него Ваше заявление-декларация за изплащане на парично обезщетение за отглеждане на малко дете на основание чл. 54 от КСО, считано от началната дата на болничния лист/Приложение № 8.

При тези обстоятелства за определяне на дължим размер дневно парично обезщетение за нововъзникналия риск “Бременност и раждане” ще бъде приложена разпоредбата на чл. 49, ал. 2 от КСО, При придобиване право на парично обезщетение при бременност и раждане през периода на изплащане на парично обезщетение за бременност и раждане или за отглеждане на дете обезщетението е в размера, определен по ал. 1 за предходното дете, ако това е по-благоприятно за лицето.

В случай че бъде издаден болничен лист с причина “Общо заболяване” преди настъпване правото Ви на болничен лист за 45 календарни дни преди определената дата за раждане /термин/ с причина “Бременност” гореизброените действия са същите, но тогава разпоредбата на чл. 49, ал. 2 от КСО не може да бъде приложена.

As of 01.01.2017, the minimum wage varies from 420 BGN to 460 BGN

The amount of maximum insurable earnings remains at the rate of 2,600 BGN

A new article (Art. 128b par. 3) which obliges every employer must keep employment dossier for staff in the company. E-file of the employee must contain documents from his appointment arising from changes to the termination of the contract.
More information about the type and storage requirements will be determined by the new Council of Ministers act.

Important for self-employed:
Insurable income for self-employed persons according to their taxable income for 2015 by the exercising the relevant labor activity as self-employed is defined:
to 5,400 BGN – 460 BGN;
from 5400.01 to 6500 BGN – 500 BGN;
from 6500.01 BGN to 7500 BGN – 550 BGN;
7,500 BGN – 600 BGN
Insurable income for self-employed persons who have not exercised activity in 2016, as well as those that started operations in 2016 and 2017 is 460 BGN

company-registration

In this article business owners will learn all needed information to create a new company in Bulgaria. Once you have decided to open a new business is important to choose the best accountant who will suit your needs.

1. Getting started

The first thing you need to know is what will be the type of activity of your new company. Once you
have chosen the type of activity of your company, you should research the market.

2. Choosing your legal form of the company

The second step is to form a company. To open a company in Bulgaria in the legal form LTD or LLC is cheapest and is not necessary to have a residence permit.

Formation of LTD and LLC can be done with a foundation capital of only 2 BGN (about 1 EUR). LTD (EOOD) can be formed with one shereholder. LLC. (OOD) can be formed by one or more shareholders. If a company shall be a shareholder there will be additional expenses for translation and its legalization depending of content of Certificate/s that we will need.

Once you have chosen the legal form of your company you should choose a company name that is not taken. There are some specific requirements for the names of the companies. For more information contact us.

All companies must be registered in the Commercial Register in Bulgaria.
The new companies can be register for one day in the Commercial register. All applications for company registration will be processed until the following working day and same day will be the decision on registration of the company. Only there may be a delay if there is an instruction to remove the irregularities in the documents.

3. Choosing a start date

You can choose when to open your company according to your plans for the realization of your services /
goods. The new companies can be register for one day in the Commercial register. All applications for company registration will be processed until the following working day and same day will be the decision on registration of the company. Only there may be a delay if there is an instruction to remove the irregularities in the documents.

We will need at least 2-3 days to prepare the documents, necessary for the initial company registration. Please, bear in mind that some of them will need notary attestation, apart from signature. There are two possible ways to do get a documents notary attested:
- in Bulgaria;
- abroad

When you choose to come in Bulgaria to verify the documents the only thing that must be done is to go to the nearest notary address and to get the attestation. This option is cheaper than verifying the documents in front of a notary abroad. If you choose it this will be the first time when it will be necessary to come in Bulgaria for not longer than a day.

When you decide to get notary attestation abroad apart from the notary signature and stamp the documents will need also you must get them notary attested and then you must go to the Bulgarian Embassy in your country to verify these documents (Declarations, Power of Attorneys, etc.) by Apostle as later they will need to be legalized in Bulgaria. The procedure abroad is more expensive and takes more time.

4. Tax address

You will need to have the official address for tax administration, which will be visited by the National Revenue Agency authorities in connection with the VAT registration.

If you do not have an office in Bulgaria we can offer this service. For more information contact us.

5. Starting a new company

You can start work after your company is registered in the Commercial Register.

6. Opening a bank account

As for the bank account it is obligatory to have bank account in Bulgarian currency. In Bulgaria we could help you to open bank account, if you provide us Power of Attorney. This bank account(s) must be on the name of your Bulgarian company.

Each new company has to open a bank account in Bulgaria so that the company could receive the payments from its clients and make payments to the suppliers and national tax agencies such as National Revenue Agency (NRA) etc.

Then you can choose between two possible ways to open company’s bank account.
- With our assistance for which we will need Power of Attorney
- Personally

We could help you to open bank account without the necessity to come in the country but we could provide you this service only for one particular bank as the have already provided us sample Power of Attorney which when verified by you gives us the rights to provide the service. This bank account(s) must be on the name of your Bulgarian company. Private bank accounts when you want to register company here are not obligatory requirement.

7. Authorization of accounting

Once the company is ready we will need several more Power of Attorneys to be notary attested. The procedure here is the same like with the first documents that need verification (abroad or in Bulgaria). If you choose to complete this procedure in Bulgaria this will be the second and last time that you’ll have to come.

8. VAT registration

In Bulgaria there are two types of VAT registration – mandatory and voluntary. If you plan to trade with European Union countries we recommend you register the company for VAT voluntarily. The VAT registration takes 14 working days.

9. Monthly accounting services

Your Accounting Ltd assists with your monthly accounting and bookkeeping needs. Our accounting service entails everything from balance statements, payroll services, free consultations and tax planning for your business. We have answers for everything your questions.

10. Financial year – closing

The financial year in Bulgaria for the period from 01/01 to 31/12. If you register your company in December your financial year will be only for the period of December.

In Bulgaria it is not possible to have a financial year for the period of 13 months.

The corporate tax return declarations must be filed no later than 31 March of the year following the tax year and should be delivered to the NRA office where the taxable entity is registered.

The annual corporate income tax must be paid no later than 31 March of the year following the tax year.

From the beginning of September 2016 National Revenue Agency will refund VAT in a shorter period. This applies to companies that have no obligations to the NRA and low-risk companies. NRA will determine which companies satisfy these requirements. These companies will not be checked by the NRA.

If you want to know more contact with us.

Company registration

The registration of a new company takes 1 to 4 days – this includes preparing the necessary documents for submission to the Commercial Register.

VAT registration

VAT registration is a free service like yours documents can be submitted online.
The deadline for registration of VAT company takes 14 working days from the date of the application for registration.

Deadline for submission of monthly VAT return – submission of monthly VAT return is 14 th including the month following the tax period to which it relates.

Publication of Annual Financial Statements

The financial statements should be filed to the Bulgarian Trade Registry also and this is obligatory to all companies.

The deadline for this is:
1. for sole traders – 31 May;
2. for limited liability companies – 30 June;
3. and all other traders within the meaning of the Commerce Act – within 31st July.

Representative expenses

It is important that these expenses should be connected to the popularization of the activity of the company.
The tax rate of these expenses is 10% of their value. The sum should be paid and declared once after the end of the financial year.

The payment of taxes ( how is it paid and how )

The corporate tax is paid once at the end of the financial year which is March 31st. The rate of the corporate tax is 10% charged on the amount of your annual profit. About how the payment of the taxes happens – almost all of our customers provide us passive access to their online banking. This means that we receive special user name and password for accounting needs so that we could upload the payment orders in the online banking and the customers just to approve them.

Insurance ( for the people involved in the company )

There is no limit according to the Bulgarian legislation about the number of the employees that a company must have. For example you could work only by yourself as manager of the company or you could either have 10 or more employees – it depends on you. As for the insurances rate – in Bulgaria each job position that you want to assign staff to, have a minimum wage. This amount is individual for each job position and it is linked to the activity of your company and your vision for the amount of the employees’ salaries. On the amount of the employees’ salaries you owe insurances. Their rate is 17.8 % on the behalf of the employer. The minimum wage in Bulgaria for 2016 is 420 BGN. The insurances are paid the same way as taxes.

Who is obliged to pay the advance tax upon paying income from rent to an individual – lessor?

Where the payer of income from rent is an enterprise, the advance tax shall be deducted and paid by the enterprise – payer of the said income.

What deadlines must be observed by the enterprise – payer of income from rent, in relation to the deduction and payment of the advance tax for this type of income?

The advance tax on income from rent shall be calculated by the enterprise – income payer, and shall be deducted upon payment of the rent. The deducted tax shall be paid by the end of the month, following the trimester during which the tax has been deducted. No tax shall be deducted and paid in advance for the fourth trimester.

Who is obliged to submit the new return for taxes due – the lessee or the lessor, and what are the deadlines?

The return under Art.55, Para.1 of PITA and Art.201, Para.1 of CITA for taxes due (template 4001) shall be submitted within the deadlines for payment of the advance tax, i.e. by the end of the month, following the trimester during which the tax has been deducted by the lessee, when the lessee is an enterprise

Therefore, the return shall be submitted by the person obliged to pay the advance tax due for the income from rent.

Shall 10% professional expenses be deducted from the rent paid, before the income payer calculates and deducts the advance tax?

Yes. The acquired income shall be reduced by 10% professional expenses, and the 10% tax is calculated and deducted using the difference.

How to pay the tax deducted by the income payer?

The advance tax deducted by the payer shall be paid to the state budget to an account of the territorial directorate of NRA, competent for the place of registration of the income payer.

What document should be issued by the income payer for the deducted tax?

The enterprise – payer of income from rent – shall issue for the income paid and the tax deducted a bill for amounts paid and a official document as per template, and these documents shall be provided to the person who has acquired the income from rent.

As of 01.01.2016, the minimum wage varies from 380 BGN to 420 BGN next increase in the minimum wage is set to become on of 01.01.2017 – 460 BGN

The amount of maximum insurable earnings remains at the rate of 2,600 BGN

The amount of the allowance for raising a child from one to two years is maintained at a rate of 340 BGN

The average monthly income per family member as of 01.01.2016 totaled 350 BGN. This income serves to limit access to family allowances for children. From 01.07.2016 Human Development provides income increased to 400 BGN

Child benefits in the following sizes:
• 37 BGN for a child
• 85 BGN for two children
• 130 BGN for three children
• 140 BGN four children, thereby increasing the number of children in the family, using the family will increase by 20 BGN

liquidation

The first stage of this process is the dissolution of the company which could be initiated by passing a resolution by the shareholders for closing the company down. For the purpose of dissolving the company, it is also necessary for the manager of the company to notify the Tax Office of the dissolution process. The Tax office then issues a certificate under art.77 of the Tax Code certifying that the company does not have tax obligations towards the State. The above Certificate should be sent directly by the Tax Office to the Trade Register. It is also necessary for the General Assembly of the shareholders to appoint a liquidator and to determine the deadline for liquidation which could not be less then 6 months. All documents related to the above actions should be presented before the Trade Register. If they are correctly prepared, the Trade Register should change the status of the company from “active company” to a ‘company in process of liquidation”. In the case where there are missing documents or incorrectly prepared documents there is a possibility that the Trade Register will refuse publishing the above circumstance.

As at the time of starting the dissolution process, the company would still be in business relations with third parties and such relations could not be terminated immediately, for the duration of this process the company would still exists as a legal entity. Its commercial activity however could be stopped. Whether the company will be active during the process of its liquidation depends on the decision made by the shareholders (The General Assembly) on the General Meeting. If the shareholders decide so, during the process of its liquidation, the company would not be allowed to participate in any commercial transactions or to sign any commercial contracts. However, they could decide instead that the company shall participate in the commercial transactions. In any event this decision of the General Assembly should be published in the Trade Register.

The dissolution process should be finished within a specified deadline –a minimum of 6 months. In every individual case this deadline is specified by the shareholders in the General Assembly but it is always at least 6 months. The main goal of this time period is for the existing business relations between the company and third parties to be concluded and for the assets and shares to be divided between the shareholders.

After this deadline expires, the second stage of the liquidation process commences, The General Assembly is summoned again and the relevant legal documents for the final liquidation and deleting the company from the Trade Register are prepared. Along with the respective Protocol from the General Assembly’s meeting, the company should present before the Trade register a Certificate from the National Insurance Institute, notifying that the company has no obligations towards the National Insurance Institute ( it actually means that the national insurance of the employees has been paid by the company). The company is also obliged to present before the Trade Registry the specified in the Commercial Code accountancy documents.
Upon receipt of all documents and a satisfactory check, the Trade register would erase the company’s entry from its records.

According to Art. 38, para. 4 of PITA (Law On the Taxation Income of Physical Persons) withholding tax on the income from liquidation shares is determined on the positive difference between the liquidation value of the share and the documented cost of the share in the company – 10 %.

From 1 January 2016 the sick notes will be submitted to the National Insurance Institute electronically.
For this purpose the companies must be registered in the system of the National Insurance Institute.

The registration system will be active from 1 December 2015.
Employers may be registered by electronic means with an electronic signature or in the institute.

Thresholds for declaring Intrastat for 2016 .:
1. Stream “Dispatches” – 260 000 BGN
2. Stream “Arrivals” – 460 000 BGN

Statistical value thresholds for Intrastat for 2016 .:
1. Stream “Dispatches” – 12.3 million BGN
2. Stream “Arrivals” – 6 million BGN

Threshold for simplified declaration for single transactions with low value Intrastat for 2016 – 390 BGN

All companies are obliged to submit to National Revenue Agency an Annual Tax Return till 31st March and to declare in Commercial Register an Annual Financial Report till 30 June of the next year, for activity in the previous year. It is advisable to attend to these obligations, because there is a fines for not meeting the deadline between 500 and 3 000 BGN.

To summarise:
1. When you receive Incomes from company, situated in a Non EU Country – you must charge 0 % VAT in the invoices that you issue.
3. When you receive Incomes from company not registered for VAT, situated in an EU Country – you must charge 20% VAT in the invoices that you issue.
4. When you receive Incomes from an individual, situated in a Non EU Country – you must charge 20 % VAT that you issue.
5. When you receive incomes from an individual (THAT HAS VAT REGISTRATION) situated in an EU Country – you must charge 0 % VAT that you issue.
6. Incomes from an individual (THAT DOES NOT HAVE REGISTRATION) situated in an EU Country – you must charge 20 % VAT in the invoices that you issue.

• Maximum insurable income changes from 2400 BGN to 2600 BGN .;

• Minimum insurance income for self-employed persons who did not carry out activities in 2013 and those which started operations in 2014 and 2015 is set at 420 BGN .;

• Minimum insurance income for self-employed persons who have exercised an activity in 2013 is determined according to their taxable income for 2013 as follows:
- Up to 5400 BGN – 420 BGN .;
- 5 400.01 BGN to 6500 BGN – 450 BGN .;
- 6 500.01 BGN to 7500 BGN – 500 BGN .;
- Over 7500 BGN – 550 BGN

• Minimum insurance income for farmers and tobacco – 300 BGN

• The minimum wage varies from 340 to 360 BGN of 01.01.2015 and of 01.07.2015, they are to be increased to 380 BGN

• Changes in VAT mainly concern the provision of telecommunications services, broadcasting of radio and television and electronic services to end users. These services should be subject to VAT in the country in which he is established taxable person – the customer. To avoid the need to register for VAT in each Member State on such deliveries, providers will be able to enjoy special arrangements for reporting the information system MOSS, after applying for it.

• Annual tax returns can now be submitted electronically only runway code issued by the NRA.

• The maternity allowance does not change remains 340 BGN changes affect the way the calculation of income which is received mother before going on leave – 18 months increased to 24 months.

• A new electronic system for the submission of medical certificates from doctors at the Institute. This does not relieve employees of their obligation to submit a doctor’s note – a copy of the employer. It is believed that the introduction of the electronic system will speed up the processing of medical certificates.

• Within 01.31.2015 year self employed can change the type of self-insurance you. Declaration of self-employment may be submitted in person at the NRA or by proxy, and also by registered mail.

Accounting Services Bulgaria

Accounting Services Bulgaria

The documents to establish of pensionable service (UP-3) and insurance income (UP-2) shall be issued free of accounting of the company in accordance with Art. 5 para. 7 of the Social Insurance Code.

These documents are prepared by the accounting within 30 days after termination of employment of the employee. And in case the request is made by the employee for the preparation deadline is 14 days from the date of the application. Therefore it is important to know that no one can refuse you give you issue these documents and each is obliged to observe over the statutory deadlines.

In the event that the company where you worked has stopped activity of NSSI can issue you a contribution period and pensionable income.

Accounting Services Bulgaria

Accounting Services Bulgaria

One of the most frequently asked questions in the field of accounting is after the registration of the company how it should be provide owners / partners.

Providing manager in EOOD

When to the registration documents of the company is applied a contract for management and control of the company owner and is agreed remuneration, the same shall be provided by contract for management and control on minimum social security threshold for the economic activity.

In the other case, when the manager and sole owner of EOOD are one and the same person and there is no a contract for management and control entered remuneration has two options to ensure:

- As a manager under management and control of the minimum social security threshold for economic activity or
- As a self-employed person on the minimum insurance income 460 BGN to the maximum insurable earnings – 2600 BGN

Providing partner in OOD

If a partner has a contract for management and control and carries out activities other than management, which will receive remuneration should be provided in two ways – once as manager and then as a self-employed person.

If a partner is not registered as a manager, the same can be provided under an employment contract or if he pursues his occupation without an employment contract is provided as a self-employed person.

Accounting Services Bulgaria

Accounting Services Bulgaria

On the website NRA published new models of the following documents:

- Information for income paid to individuals under Art. 73 of the Personal Income Tax Act;
- Statement for remuneration paid of art. 45, para. 4 of PITA;
- Official note under Art. 45, para. 4 of PITA;
- Official note of income acquired from sources in art. 35 of the Personal Income Tax Act;
- Official note under Art. 45, para. 2 pt. 1, 2 and 3 of the Personal Income Tax Act;
- Official note under Art. 45, para. 1 and par. 2 pt. 4 of the Personal Income Tax Act and
- Declaration under Art. 55, para. 1 of PITA and art. 201, para. 1 of CITA and applications.

Accounting Services Bulgaria

Accounting Services Bulgaria

Every employee is entitled to paid annual leave.

According to Art. 155 para 1 of the Labour Code when starting work for the first time the employee may use paid annual leave when it acquires at least 8 months work experience.

In case of termination of employment before acquisition of of eight months work experience the employee is entitled to compensation for unused leave, calculated in accordance with Art. 224, para 1.
The amount of paid annual leave is not less than 20 working days.

Some categories of workers, depending on the specific nature of the work are entitled to an extended paid leave in which leave is included under para 4. The categories of employees and the minimum amount of such leave shall be determined by the Council of Ministers.

According to Art. 156 under Art. 155, para. 2 the employee is entitled to additional paid leave:

- to work under specific conditions and risks to life and health that can not be eliminated, restricted
or reduced, despite the measures taken – not less than 5 working days;
- To work in irregular working hours – not less than 5 working days.
The types of work for which additional annual leave shall be determined by an ordinance of the Council of Ministers.

Accounting Services Bulgaria

Accounting Services Bulgaria

According to the Labour Code, Art. 70 states that where the work required to verify the suitability of the employee to perform, final acceptance of the work can to be preceded by a contract for a trial period of 6 months. Such a contract may be concluded when the employee wishes to ascertain whether the work is suitable for him.

An important part is when concluding of the contract for a period of the test is to be mentioned some of the characteristics:

- In the contract shall specify in whose benefit it is agreed probationary period. If this is not specified in the contract, it is agreed that the period of testing is scheduled for the benefit of both parties.
- During the test, the parties shall have all rights and obligations as well as in the final agreement.
- A probationer does not include the time during which the employee was on leave or for other valid reasons not performed the work for which the contract is concluded.
- For the same job with the same worker in the same establishment employment contract for a trial period can be entered only once.

Termination of the contract for a trial period shall be governed by Art.
71 of the Labour Code:

- until the expiration of the probationary period the party in whose benefit it is agreed, may terminate the contract without notice;
- The labor contract is deemed to be finally concluded, if not terminated until the expiration of the probationary period.

Accounting Services Bulgaria

Accounting Services Bulgaria

According to the Social Insurance Code self employed are:

- Freelancers and / or craft activity of registration;
- Persons engaged in work as sole traders, owners or partners in commercial companies and individuals – members of the unincorporated companies;
- Registered farmers or tobacco producers.

The Self-employed individuals are obliged to submit to the NRA declaration form for the initiation, cessation, renewal or discontinuation of employment in 7 – days of the occurrence of the relevant circumstance.

The minimum monthly insurance income for self-employed persons is 420.00 BGN.The exception are registered farmers and tobacco producers, for which the minimum monthly insurance income is 240.00 BGN.

The maximum monthly insurable income for self-employed persons is 2 400.00 BGN.
It is important to note that the declaration is complete with address identity card of the person and submitted to the Territorial office at this address.

After submit a declaration of self-employed persons are required to submit a declaration form 1 to 25 day of the month following the month and accordingly pay their obligations to the NRA PIN. Declaration form 6 is submitted once a year by 30 April of the calendar year following the year to which it relates.

The Self-employed individuals also submitted a declaration under Article 50 of the Personal Income Tax Act of the final amount of the insurance income.

Accounting Services Bulgaria

Accounting Services Bulgaria

According to VAT car is a car in which the number of seats the driver does not exceed 5.

The fuel expenses for a car classified as maintenance costs repair and operation. These costs are treated differently depending on what kind of activity is the fuel used:

1. When the fuel is used for the performance of the main activity of the company, it is recognized for tax purposes and not subject to to income tax on costs. Activities that fall into this category – security, transport or taxi services.

2. When the fuel is used for the management activities of the company, the costs are not subject to VAT pursuant to Art. 70, paragraph 1, item. 3 VAT and taxed 10% according to Art. 204 tons. 3 CITA.

3. When the fuel is used for main and management activities of the company tax base costs are based on mileage for the activity for the calendar year.

4. When the cost of exploitation, repair and maintenance of passenger cars used for representation expenses such as business meetings, or other entertainment events are subject to 10% tax under CITA.

Accounting Services Bulgaria

Accounting Services Bulgaria

Companies which accounted representative expenses are subject to tax 10%.
Representative expenses are considered:

- Costs associated with the activity of the company for example: organizing business events, buying food and drinks, corporate event, buying flowers and gifts, and more.

- Social costs for the staff and persons employed on contract management and control for example additional voluntary insurance, food vouchers and more.

- Costs related to the exploitation of vehicles for carrying out management activities.

According to Corporate Income Tax Act representative expenses are taxed at 10% on the total value of such tax shall be declared and paid in each financial year of the company.

It is important to note that the organization of congresses, conferences and other events of this type do not fall under the tax rules.

Accounting Services Bulgaria

Accounting Services Bulgaria

At the end of September was upgraded system of the commercial register as the system is already operational. The main difference noticeable at first glance is the ability to trade register is fluent foreigners as the system is an added feature to change the system language and translated into English. This will greatly facilitate foreign company owners and natural persons who now easier can check and search the site brra.bg

Accounting Services Bulgaria

Accounting Services Bulgaria

In compliance with Article 25, Paragraph 3 of the Health and Safety at Work Act all employers shall ensure that their workers and employees receive examinations by occupational health services.

Occupational Health Services counsel and assist employers in planning and organizing the following activities for providing and maintaining healthy and safe working conditions. For more information contact us.

Accounting Services Bulgaria

Accounting Services Bulgaria

You want to start a business in Bulgaria?

This can be done easily by trusting our team of professionals.

We offer consulting services to answer your questions and to realize your ideas.

Right now to our new customers we can offer preferential price for consulting services and subscription accounting.

Contact us and learn more about our special offer.

Accounting Services Bulgaria

Accounting Services Bulgaria

Compulsory VAT registration – art. 96, para 1 of the VAT Act.
An obligation for registration arises when a taxable person reaches a taxable turnover of BGN 50 000 or more for a period 12 consecutive months preceding the current month.

Compulsory registration for supply of goods with assembly and installation – art. 97, para 1 of the VAT Act. A person who is established in another Member State and who effects taxable supplies of goods which are assembled or installed within the territory of the country by or for the account of the said person. The application for registration shall be submitted not later than 7 days prior to the date of occurrence of the chargeable event for the supply.

Compulsory registration in case of distance selling of goods – art. 98 of the VAT Act.
Any taxable person who effects a supply of goods whereof the place of transaction is within the territory of the country under the terms of distance selling shall be registered on this grounds. The obligation for registration arises not later than 7 days prior to the date of occurrence of the chargeable event and turnover of BGN 70 000.
Compulsory registration in case of Intra-Community Acquisition (ICA) – art. 99 of the VAT Act.

The application for registration shall be submitted not later than 7 days prior to the date of occurrence of the chargeable event for the acquisition by which the total value of taxable Intra-Community acquisitions exceeds BGN 20,000. The obligation for registration arises not later than 7 days prior to the date of occurrence of the chargeable event.

Compulsory registration as result of transformation – art. 10, para 1 of the VAT Act.
Registration under the VAT Act shall be compulsory for any person who in case of no supply of goods or services (Art. 10, para. 1 of the VAT Act) acquires goods. This registration shall be effected by submission of an application for registration with in 14 days.

Registration of a non-resident who is not established within country – art. 101 of the VAT Act.
This type of registration does not apply to non-resident persons supplying services under Chapter Eighteen of the VAT Act, insofar as there is a specific procedure for registration. The obligation for registration arises not later than 14 days prior to the date of occurrence of the chargeable event.

Accounting Services Bulgaria

Accounting Services Bulgaria

Since the beginning of 2015 doctors and dentists will present sick- lists electronically to the NSSI. This will shorten the terms of payment of benefits and reduce the number of erroneous sick-lists. Patients will be issued a paper copy of the sick-list own to serve as a supporting document to the employee to his employer.

With the introduction of electronic submission of sick-lists will be a transitional period during which it will be possible to submit sick-lists and the current procedure of transmission NSSI

Accounting Services Bulgaria

Accounting Services Bulgaria

Persons who are employed part-time and receive a salary less than the minimum monthly salary for the country – 340 BGN are entitled to unemployment benefits in the amount of 50 percent of their rightful monetary compensation for the remaining periods.

When unemployed working without labor contracts and receive a monthly salary below the minimum salary for the country – 340 BGN, after reducing his operating costs, these are not subject to insurance and are entitled to receive unemployment benefits.

Accounting Services Bulgaria

Accounting Services Bulgaria

Changes in the law provide can be entered into a labour contract with a condition of internship, which is regulated in art. 233. There are several conditions for this:

- The trainee must have completed secondary or higher education;
- The position for which a candidate must correspond to completed education;
- The trainee should have no work experience, which will be internship;
- Labor contract with a condition of internship can be concluded only by persons 29 years of age.

In art. 233в provided for termination of the contract in 14 days period of termination to issue a recommendation on the results of the internship.
It is important to note that the trainee has only once to conclude a labour contract with a condition of internship.

Accounting Services Bulgaria

Accounting Services Bulgaria