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.

• 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

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

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