Tax Optimization Is an Art

Filling an Annual Tax Return

Local and foreign companies conducting business activity in Bulgaria are obliged to submit an annual tax return. It should be filed by 31st of March of the following year in the territorial directorate of the National Revenue Agency. If the firms have not reported income or expenses during the year, they are not required to file an annual tax return.

The annual tax declaration of local individuals has to include:
– Acquired income during the year;
– Income subject to license tax;
– Income from dividend and liquidation quotas;
– Income from shares in companies abroad;
– Delivered and received cash loans.

Foreign individuals are required to submit annual tax return for:
– Income received during the year;
– Income subject to patent tax.

People who have received only employment income as well as non-taxable income or income subject to final tax are not obliged to file an annual tax return.

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