Tax return
Annual closure is the final stage of the accounting work for the reporting period. In essence it is a detailed and comprehensive review - a report and analysis of the overall business of the company. As a step in the accounting work, the annual closure is a complex of interrelated procedures that are performed in sequence.
Which companies are subject to annual closing of accounts?
Year-end closing out all traders within the meaning of the Commerce Act, including such sole (ET). It is important to know that even if your company is not performing any activity during the year you, as her manager, are obliged to take necessary actions for the preparation and submission within all required declarations and statements. In other words: By activity during the year or not, you are required to submit at least an annual tax return to the NRA, AAR NSI and annual financial statements in the Commercial Register (note: the latter does not apply to ET).

What are the terms and what are the penalties?
Deadlines for preparing and submitting various reports and declarations are different depending on their type and legal form of the entity.

- Until March 31 of the following calendar year must be filed annual tax return / with or without business / trade companies.

Up to 30th April deadline for individuals and sole proprietors to submit their annual declaration.

- Till 30th June the companies announced annual financial statements in the Commercial Register Unincorporated companies / OCAC / should publish their accounts in economic magazine or web .. Exceptions are sole traders. They are obliged to declare accounts only provided that subject to financial audit.

The amount of fines for each breach of the procedures, requirement, shape or compiler in most cases starts from 500 BGN and up to 3000 - 5000 leva for each violation.