Accounting in Plain Language: Obligations, Payments and Deadlines!

Running a business in Bulgaria, whether it is a small or medium-sized enterprise, a freelance professional, or a well-established trading company, requires clear planning of accounting and tax obligations. To avoid sanctions, fines and administrative problems, it is important for every owner or manager to know the main deadlines, payments and commitments throughout the year. In this article we will look in a thorough but accessible way at what VAT-registered and non-registered companies must do, what the monthly, quarterly and annual obligations are, and how proper accounting services guarantee peace of mind.

Main differences between VAT-registered and non-registered companies

VAT-registered companies are obliged to submit monthly VAT returns, VAT statements, as well as purchase and sales ledgers. They charge VAT to their clients and have the right to claim a tax credit.

Non-registered companies are not obliged to charge and declare VAT, but this does not mean they are exempt from accounting and tax obligations. They submit annual reports, pay corporate tax, and keep track of other deadlines (social security, income declarations, etc.).

Monthly obligations for all companies

2.1. Submitting declarations and paying social security contributions

By the 25th of the month, all companies with employees or self-insured persons must:

Submit declarations form 1 and 6 to the National Revenue Agency (NRA).
Pay the social security contributions for employees and managers (state social insurance, health insurance, supplementary mandatory pension insurance).
Pay the advance taxes on wages.

2.2. VAT returns (for registered persons)

By the 14th of each month, VAT-registered companies must:

Submit a VAT return.
Submit purchase and sales ledgers.
Pay the VAT due or claim a tax credit.

Quarterly obligations (persons not registered for VAT)

Companies that are not registered for VAT but generate income submit a declaration under Art. 55 and Art. 201 of the Personal Income Tax Act, or Art. 92 of the Corporate Income Tax Act (if they are an EOOD or a joint-stock company), where advance taxes are due.

The deadlines are:

For Q1 - by 30 April
For Q2 - by 31 July
For Q3 - by 31 October

Annual obligations - the most important deadlines

4.1. Annual financial statement (AFS)

All companies, regardless of their activity, are obliged to file an AFS with the Commercial Register.

Deadline: by 30 June of the following year.

4.2. Annual tax return under Art. 92 of the Corporate Income Tax Act

Deadline: by 30 June of the following year.

4.3. Annual return under Art. 50 of the Personal Income Tax Act (for self-insured persons, or persons who have generated income under non-employment relationships)

Deadline: by 30 April.

Taxes to be paid during the year

Type of tax | Who owes it | Payment deadline

Corporate tax (10%) | Trading companies | By 30 June

Income tax (10%) | Freelance professions, sole traders | By 30 April

VAT | VAT-registered | By the 14th of each month

Dividend tax | All companies | By the end of the month following the decision

Patent tax | Patent activity | 31.01, 30.04, 31.07, 31.10

Social security commitments during the year

Self-insured persons - submission of form OKD-5 upon change.
Employees - employment record book and accrual of social security contributions.
Annual reconciliation by 30 April.

Specific obligations for VAT-registered companies

VIES declarations - by the 14th.
Intrastat - when thresholds are crossed.

How to avoid sanctions and fines

✔ Keep a calendar of deadlines

✔ Keep track of legislation

✔ Use a professional accountant

Why choose Марилена-Консулт EOOD

Марилена-Консулт EOOD offers competent accounting services tailored to the individual needs of the business. The team provides clarity, accuracy and timely solutions on all accounting and tax matters. Clients receive not just documents, but full support - from starting a company to optimisation and growth.

Trust professionals who speak to the point and lead your business towards peace of mind and efficiency.