Bulgaria Accounting and Financial Report Services

Description

Bulgaria is favorable to companies not only of the favorable tax regime, but also of low costs of doing business and great access to different markets. Due to its locations Bulgaria provides a direct access to European Union, Turkey, CIS, Middle East and North African markets.
Bulgarian accounting requirements are governed by the new Accountancy Act (AA) and the main criteria for its application to companies is either the use of International Financial Reporting Standards (IFRS) adopted by the European Union, or National Accounting Standards (NAS) of Bulgaria.
All enterprises are required to prepare their annual individual financial statements and annual management reports on activities by 31 March of the following year. Management is responsible for the timely preparation of the financial statements and their content.

Moreover, all enterprises are required to file and settle their annual corporate income tax declaration with the tax authorities by 31 March of the following year.
Also, all entities are required to prepare annual financial statements with a financial year end of 31 December until 30th of June. The financial statements are the responsibility of the company’s management. However, depending on their classification of the company (micro, small, medium, large or PIE), different criteria or certain exemptions may apply for the preparation of annual financial statements.

Services

We provide both full and partial online accounting services. Trusting us with the numbers will give you more free time to grow your business.
Offshorelicense Accounting team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. As a company that is active in Bulgaria, you would also seek an assistance in tax declaration and annual report preparation and submission.

There is a significant penalty charge for the late submission of financial statements. The penalty charge may vary from between 0.1-0.5% of the net sales revenue of the entity for the year. Our services would ensure that you wouldn’t miss your deadlines.

Accounting services provided by Offshorelicense Accounting team also include:

• Preparation of financial reports;
• Creation and submission of annual financial statements;
• Report submission to the tax authorities;
• Virtual assistance with any questions regarding taxation in Bulgaria;
• Other Accounting services.

* - The stated amount is a starting price for 1 year of professional Accounting services.