Late Bulgarian Company declarations

Yearly declaration for your Bulgarian company if you have missed the regulated period - P.O.A euro

There are a great deal of things to know and understand, knowing about one of the important tasks is to prepare and submit the annual return and annual financial statements of their company for the previous calendar year beginning of 01.01 and ending on 31.12, or from the date of registration of the company to 31.12 at the same year.

Every year, each company must prepare these documents, regardless of whether that company trades or not. The annual tax return and annual financial statements shall be prepared by accountants and stamped with the seal of the company. These important documents must be submitted to the relevant branch of the National Revenue Agency by the address of the company no later than 31st of March each year.

Example: One company was registered on 12.08.2009 in Popovo, Targovishte, the annual tax returns and annual financial statements for the corresponding period of 12.08.2009 to 31.12.2009 shall be submitted not later than 31.03.2010 at the Territorial Directorate of the National Revenue Agency in Targovishte and the National statistical institute.

If this is not done, the company will be penalized by the inspectors of the Territorial Directorate of the National Revenue Agency with act for establishing of an administrative offence, which will be followed by an act of establishing an administrative penalty payment of a fine.

The Act for establishing an administrative penalty puts you in obligation for a period of time to pay the fine, and beyond that period there will be interest that you will have to pay as well. The size of the fine is determined on territorial level - example: In a region where the fine is 500 leva, in another area is 1000 leva. If occurs the same violation from the same company in the future, the fine is much greater.