Business management in Bulgaria, no matter how small, medium enterprise, a freelancer or a developed commercial company, requires clear planning of accounting and tax obligations. To avoid penalties, fines and administrative problems, it is important for any owner or manager to know the basic terms, payments and commitments during the year. In this article we will take a more comprehensive look, but accessible way of what VAT-registered and non-registered businesses should do, what are the monthly, quarterly and annual obligations and how the right bookkeeping service ensures peace of mind.

1. Main differences between VAT registered and non-registered companies

VAT-registered companies are obliged to submit monthly VAT returns, certificates-declarations, as well as purchase and sales journals. They charge VAT to their customers and are entitled to a tax credit.

Unregistered companies are not required to charge and declare VAT, but that doesn't mean, that they are exempt from accounting and tax obligations. They submit annual reports, pay corporate tax, and follow other deadlines (insurances, income statements, etc.).

2. Monthly obligations for all companies

2.1. Submission of declarations and deposit of insurances

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

– To submit declarations arr. 1 and 6 to the NRA.

– To pay the insurance contributions for employees and managers (To you, ZO, DZPO).

– To deposit advance taxes on wages.

2.2. VAT declarations (for registered persons)

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

– To submit a reference-declaration for VAT.

– To submit journals of purchases and sales.

– To pay the VAT due or to use a tax credit.

3. Quarterly obligations (non-VAT registered persons)

The companies, which are not registered for VAT, but generate revenue, submit a Declaration under Art. 55 and Art. 201 from VAT or Art. 92 from ZKPO (if they are EOOD or AD), with advance taxes due.

The deadlines are:

– For the first quarter - up to 30 April

– For the II quarter - up to 31 July

– For the III quarter - up to 31 October

4. Annual obligations - the most important deadlines

4.1. Annual financial statement (GFO)

All companies, regardless of activity, are obliged to file GFO in the Commercial Register.

Term: to 30 June of the following year.

4.2. Annual tax return under Art. 92 from ZKPO

Term: to 30 June of the following year.

4.3. Annual declaration under Art. 50 from VAT (for SALT, or faces, realized income from non-employment legal relationships)

Term: to 30 April.

5. Taxes to deposit during the year

Type of tax | Who owes it | Payment term

Corporate tax (10%) | Commercial companies | To 30 June

Income tax (10%) | Free professions, MEAT | To 30 April

VAT | VAT registered | By the 14th of every month

Dividend tax | All companies | By the end of the month after a decision

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

6. Insurance commitments during the year

– Self-insured persons (THAT) - submission of OKD-5 upon change.

– Employees - ETZ and accrual of insurances.

– Annual leveling to 30 April.

7. Specific obligations for VAT registered companies

– VIES declarations – until the 14th.

– Intrastat - when crossing thresholds.

8. How to avoid sanctions and fines

✔ Keep a calendar with deadlines

✔ Follow the legislation

✔ Use a professional accountant

9. Why choose Marilena-Consult EOOD?

Marilena-Consult EOOD offers competent accounting services, tailored to the individual needs of the business. The team provides clarity, accuracy and timely decisions on all accounting and tax cases. Customers receive more than just documents, and full support – from starting a company to optimization and growth.

Trust professionals, that speak to the essence and lead your business to peace of mind and efficiency.