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 %.
• 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.
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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.
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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.
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