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Accounting Services in Bulgaria

Updated on Friday 10th June 2022

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When registering a company in Bulgaria, one must take into consideration an accounting department or can hire an accounting firm to observe and control the financial activities. Our company formation specialists in Bulgaria are at your disposal with complete information and support in order for you to properly run your business.
 
 
 Quick Facts  
Who requires accounting services in Bulgaria

If you want to register a company in Bulgaria and have economic activities, you need to respect the accounting rules.

Applicable accounting legislation

- Bulgarian Accountancy Act,

- International Financial Reporting Standards (IFRS)

Types of accounting services we offer

- bookkeeping,

- payroll,

- annual financial statements,

- tax returns,

- debt monitoring

Tax advice and compliance (YES/NO) Yes
We offer support for tax registration

 Yes

Financial planning for company owners On request
Risk assessment and evaluation

If solicited 

Types of audit services

- internal,

- external,

- financial,

- compliance,

- operational

Tax minimization methods available

- tax credit planning,

- charities,

- retirement plans,

- selling investments that lost their value

Personalized financial consultancy services On request, for company formation in Bulgaria
Investment consultancy for high-net-worth individuals

On request

Financial and analysis reports for companies

If solicited

Human resources services available (YES/NO)

Yes

Expertise provided by certified accountants (YES/NO)

Yes

Free case evaluation for companies (YES/NO)

Yes

 

Accounting services we can provide for you in Bulgaria

 
All companies in Bulgaria must work in complete agreement with the Accounting Law and its provisions and in respect with the IFRS (International Financial Reporting Standards). Because our team has a vast experience in creating companies from scratch, foreign entrepreneurs can choose us for accounting matters at any time. The following accounting services in Bulgaria are at your disposal at any time:
 
•    payroll;
•    bookkeeping;
•    VAT registration;
•    tax filings;
•    preparation of annual financial statements of the company;
•    tax planning when running your business in Bulgaria;
•    tax minimization methods and optimization if it is the case.
 
For the above-mentioned accounting services, you can rely on our Bulgarian team of company incorporation agents. As for the company formation in Bulgaria, this is an easy procedure with fewer formalities with the authorities in charge for which we can offer in-depth support.
 

Bookkeeping and payroll in Bulgaria

 
According to imposed standards and local laws, all the financial operations must be recorded in an accurate manner with the help of bookkeeping. Recording the sales and expenditures, raising invoices, keeping the inventory records and processing the payment orders to suppliers enter in our field of activities from an accounting point of view for companies in Bulgaria. As for payroll services in Bulgaria, these will ensure that the employment matters are clean and clear through correct documents related to the payment of workers in your company. In the same area, the work contracts, the employee leaves, and the insurance can be handled by our team of accountants.
 
If you would like to know more about the accounting services necessary for your business, please feel free to contact our company formation representatives in Bulgaria.
 

What are the taxes covered by the USA-Bulgaria double tax treaty?

 
Bulgaria and USA signed a double taxation agreement in 2007 with the purpose of avoiding the taxation of incomes twice. The business collaboration between Bulgaria and the USA was bolstered with the help of this important arrangement signed at the right time. Our company formation agents in Bulgaria are here to offer support to foreign investors wanting to start a business in Bulgaria. Moreover, they can help entrepreneurs register for taxation in Bulgaria.
 
The corporate income tax and the personal income tax are protected by the double taxation treaty signed between the two countries, with the mention that in the case of USA, the federal income tax enters the discussion. Here are important details to know about the double taxation agreements signed by USA and Bulgaria:
 
  1. Both natural persons and companies in Bulgaria and USA are protected by the agreement.
  2. Subsidiaries are permanent establishments. The incomes generated are protected against double taxation, whether in Bulgaria or in USA.
  3. Social security taxes do not enter the protection of this double taxation treaty.
  4. Specific tax rates apply to dividends, interests, and royalties.
 
The double taxation treaty signed by Bulgaria and USA comprises a series of important provisions under which companies and natural persons generating incomes in both states are protected against fiscal evasion and double taxation. One of our company formation specialists in Bulgaria can tell you more about taxation in this country. We are also at your disposal if you would like to register a company in Bulgaria.
 
If you need accounting services in Croatia or other countries, we can put you in touch with our local partners. 
 
 

Meet us in Sofia


Call us now at +359 888 350 643 to set up an appointment with our specialists in company formation in Sofia, Bulgaria. Alternatively you can incorporate your company without traveling to Bulgaria.

As a client of Sofia Offices, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Bulgaria.

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BridgeWest takes great care of selecting its affiliates worldwide and Bulgaria is no exception.

Francesco Dagnino, Partner of
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www.LawyersItaly.eu

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