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.
From 13.11.2015 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.
Start up business in Bulgaria
The Public limited companies without activity are not subject to statutory audit.
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.