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

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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