To register a company (EOOD, or Ltd.) It is necessary:
- A unique name in the Registry Agency to be saved – you will need to fill an application form for keeping of a company name;
- An application for registration of circumstances of a company (EOOD, or LTD) to be filled in;
- Along with the application for registration of a company (EOOD, or LTD) the following documents should be attached:
- Sole proprietor/partners decision for establishing of a company (EOOD, or LTD);
- Partnership agreement for Ltd. or foundation act for EOOD;
- Consent to be elected a manager and his notarized signature sample;
- Declaration under Art. 142 of the Commercial Law;
- Declaration under Art. 13 para. 4 of the Commercial Register Act;
- Document for paid capital;
- Document on the state registration fee of a company (EOOD, or LTD).
The required threshold for VAT registration is 50 000 BGN. The exact amount is calculated based on the amount of the revenue for the last 12 months, as it does not need to be generated within one calendar year.
For this purpose, an application form for VAT registration has to be submit to the Bulgarian tax authority within 14 days after reaching the required turnover. If you miss the deadline for VAT registration then you are a subject of penalty and official registration. The fine for missed deadline is from 500 to 5 000 BGN.
After tax period expiration, the VAT registered persons are obliged to prepare and submit to the National Revenue Agency (according to the place of company registration) a statement, declaration, or diary of all purchases and sales made within the reported period. The deadline for submission is 14 days starting from the expiration date of the reported tax period.
It is very important that the tax declared in the statement must be paid within the same period as the declaration submission.
In case of unpaid tax within the allowed period an interest charges will be applied until the tax amount is fully paid.
In case of failing of submission in certain period the person has to pay fine from 500 up to 1 000 BGN.
The deadline for submission is dependent on the Law on which you submit your annual tax statement.
If you submit annual tax statement under the “Corporate Income Tax Law” the deadline for submission of a statement to the NSI is the 31st of March of the year following the reported year.
If you submit annual tax statement under the “Personal Income Tax Law” the deadline for submission of a statement to the NSI is the 30 of April of the year following the reported year.