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Important to know about Bulgaria

Companies
Different company forms:

EOOD - Sole-shareholder Limited Liability Company

OOD - Limited Liability Company

ET - Personal Unlimited Liability Company

AD - Joint-stock Company

EAD - Sole-owner Joint-stock Company

SD - Unlimited Partnership

KD - Commendam, Limited Partnership, Responsibility is according to Agreement

KDA - Partnership Limited by Shares


Company registration time and costs:

2-7 working days, depends on the officer

162 BGN -  State fee for registration of EOOD

132 BGN - State fee of registration of SD and KD

460 BGN - State fee of registration of AD, KDA and EAD

-30% - Discount of state fees if registration is performed electronically

52 BGN - Name Reservation

Fee for legal services - according to offer

Translation and Legalization Fees

Depending on deadlines, language and number of pages


Registers

VAT - monthly

Income tax - monthly

Customs on entry - Intrastat monthly


Audit obligation

  • Compulsory - AD, KDA, emittients on public markets, insurance companies, credit institutions, additional social contribution funds, other companies when required by legal acts

  • Not-compulsory  - companies which during current or previous year do not exceed two of the three indicators: a/ balance value of assets towards 31st of December 1.5 million BGN; b/ net sales income for the year 2.5 million BGN; c/ average number of employees for the year 50 people.
 

Taxes

Rates, costs

Short explanations

VAT

20%

the Financial Minister promises deduction with 2% by end of 2011 and with another 2% by end of 2013

Corporate income tax

10%

For legal entities

Dividend tax

5%

Not applicable when dividends are distributed in favour of legal entity resident of another European Union Member State

Personal income tax

10%

The rate is charged on gross salary minus social contributions payable by the employee

Social security contributions for the employee

12,10%

Min chargeable amount is 420 BGN and maximum is 2 000 BGN.

Social security contributions for the employer

18.1 - 17.60%

The rate may vary depending on the employer's type of business. Min chargeable amount is 420 BGN and maximum is 2 000 BGN

Property tax

0.1 - 2.5 per thousand

Every municipality votes its own per thousand

Refuse Collection Fee

 

Every municipality votes its own fee

Real estate transfer tax

0.1 - 3 per cent of sale price

Every municipality votes its own per cent

Taxes for non-residents

Depends on tax and treaty


Main excise taxes

1100 BGN per 100 litres

ethyl alcohol


830 BGN  per 1000 litres

leaded petrol


685 BGN per 1000 litres

unleaded petrol


101 BGN per 1000pcs

cigars - specific excise


23% of sale price

cigars - proportional excise

 

Important links:
National Revenue Agency

National Statistical Institute

Trade Register and Registry Agency

National Insurance Institute

Bulgarian National Bank

Ministry of Foreign Affairs

Ministry of Interior Affairs

Ministry of Finance