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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.
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ACCOUNTING AND ADMINISTTRATIVE SERVICES-
SUMMARY:
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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Leva (1 Euro), which can be withdrawn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.
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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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