Annual company reporting in Bulgaria: deadlines and penalties

Running your own business in Bulgaria involves filing reports every year. This work must be done by an accountant or the manager. If the company has no accountant on staff, the task can be assigned to a specialist from an outside firm.

Types of reports

Previously, non-operating companies ("dormant companies") also had to file all of these types of reports, but later only the last two were kept for them, and companies with no activity now only need to file them once. When a company starts operating, all the reports will have to be filed every year. If any of the reports is not filed or is filed late, a penalty will have to be paid. The amounts are quite substantial – from 200 to 2000 leva for the report to the Statistical Institute and from 500 to 3000 leva for an unfiled tax return and annual financial statement. For a repeat violation the penalty amount increases.

Operating companies must file three types of reports every year:

• The annual tax return – to the tax office by the end of March;
• The annual activity report – to the Statistical Institute by the end of April;
• The annual financial statement – to the Commercial Register by 30 June.

Rely on professionals

To file the reports yourself you need to have an electronic signature. In addition, filling in all the forms correctly can be a difficult task for a non-professional. There is a solution – turn to specialists. The qualified accountants of Bulgarian Expert will prepare all the necessary papers correctly and file them on time. You can focus on developing your business: our specialists will take care of all matters relating to reporting and communication with the NSI, the Commercial Register and the National Revenue Agency (NAP).