Category Archives: Corporate Tax Act

Tax at source for interest income on loans from a foreign entity to a Bulgarian company

A Bulgarian company concludes a loan agreement with a foreign company, which doesn’t have a place of business activity in the country. The interest of the loan agreement is an income for the foreign entity and under the Bulgarian laws, … Continue reading

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How to pay less corporate tax in advance during the year without paying interest to budget

Under Corporate Income Tax Act (CITA), corporate taxpayers are obliged to make monthly or quarterly advance payments of corporate tax. Entities with net sales for previous year exceeding BGN 3 million are obliged to make monthly advance installments. All other … Continue reading

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Annual financial statements “at one spot”

Every year the companies must publish annual financial statements for the past year, as the deadline for sole proprietors (which are subject to statutory audit) is 31st May, for limited liability companies (LLC) – by 30th June, and for all … Continue reading

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Sole Proprietor or an Ltd?

Perhaps any entrepreneur, when starting up a business, is probably asking himself how to do it – as a sole proprietor or via an Ltd? I will not delve into legal analysis and comparisons, but will point a few basic … Continue reading

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Tomatoes and the VAT credit

“Can I use the tax credit for this …?” or “Will this … be recognized as a of the company?” are frequently asked questions.

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Methods for avoiding double taxation – how to apply these?

Each Double Tax Treaty (DTT) defines the techniques for avoiding double taxation and the income types which they relate to. The model of the Organization for Economic Cooperation and Development – OECD determines that the techniques are to be explained … Continue reading

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