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NOMINAL LTD - Accounting & Bookkeeping

"Nominal" Ltd - Bulgaria, Burgas is an accounting company, specialized in outsource services in the field of accounting, bookkeeping, payroll, legal and tax consulting. We offer high quality express accounting services for persons and companies from all over the world in every district in Bulgaria.

ACCOUNTING AND ADMINISTTRATIVE SERVICES- SUMMARY:

Company registration and re-registration
Only Bulgarian sitizens (or Bulgarian Companies) can purchase land and plots in Bulgaria, therefore to buy a house with a garden, a company must be formed. Setting up a limited Company (Ltd) requires a bank account with a minimum of 2 ulgarian Leva (1 Euro), which can be withdrawn upon completion.
Accounting & Bookkeeping
Bookkeeping is a compulsory obligation of all legal entities operating in Bulgaria. It should be made according to Accountancy Act and applicable Accounting Standards.
Payroll
All legal entities should conduct their payroll activities on a monthly basis. This is applied for employees and management remunerations, their income tax and social security payments. The legal regulations are subject to annual review and change.
VAT tax returns
Any company with an annual turnover above 25 000 euro is subject to VAT regulations. Bulgarian value added tax is 20% and VAT reporting is on a monthly basis. Application of VAT recovery rules requires specific experience and often contacts with the tax administration.
Financial statements
Any company should prepare annual financial statements according to Bulgarian Accounting Standards or (for every company) according to International Financial Reporting Standards.
Tax returns
Any company should prepare annual tax return till March 31st of the next year. It requires application of dozens tax exemptions with financial effect into the next years. Tax regime may require tax application and payments in the course of the year.
Other tax returns are required if company is in possession of real estates or automobiles.
Individuals should present their annual tax return till April 30th. It includes all incomes originated from Bulgaria that may or may not be subject to a double taxation treaty.
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