Accounting Services in Bulgaria: One-stop shop
Running a company or working as a freelancer in Bulgaria comes with certain legal and financial obligations. Among these, accounting services in Bulgaria stand as one of the most critical requirements. Whether you’re an established company, a startup, or a freelancer, accounting services ensure compliance, efficiency, and growth.
In this article, we’ll discuss why accounting services are mandatory, the types of reporting required, and the added value they bring. Additionally, we’ll highlight the benefits of having a unified legal and accounting service provider and the range of services we offer to help your business thrive in Bulgaria.
Why Are Accounting Services Mandatory in Bulgaria?
Compliance for Companies
In Bulgaria, companies are required to maintain accurate financial records and comply with legal and tax regulations. Proper accounting is necessary to:
- Prepare mandatory monthly, quarterly, and annual reports.
- Ensure timely submission of tax declarations and payments.
- Avoid penalties for non-compliance with Bulgarian tax and labor laws.
Obligations for Freelancers
Freelancers operating in Bulgaria must also adhere to accounting and tax requirements. This includes:
- Registering their activity with the Bulgarian authorities.
- Filing monthly or quarterly tax returns, depending on their VAT status.
- Keeping records of their income and expenses for annual tax declarations.
Reporting Requirements in Bulgaria
- Monthly Reporting
Every business must submit monthly declarations to the National Revenue Agency (NRA) for VAT (if applicable), payroll, and social security contributions.
- Quarterly Reporting
Quarterly financial reports are often required for internal purposes or compliance with certain regulations, especially for VAT-registered entities.
- Annual Reporting
At the end of each fiscal year, companies and freelancers must file:
- Annual Financial Statements: A detailed overview of the company’s financial performance.
- Annual Tax Returns: Comprehensive reports on income, expenses, and tax liabilities.
Failure to meet these deadlines can result in fines and additional scrutiny from Bulgarian authorities.
The Added Value of Accounting Service
Professional accounting services go beyond compliance. They provide:
- Tax Optimization: Ensure you take full advantage of deductions and incentives.
- Financial Insights: Help you make informed decisions through detailed financial analysis.
- Peace of Mind: Reduce the risk of errors, penalties, and legal complications.
Why Combine Legal and Accounting Services?
Having your lawyer and accountant under the same roof offers several advantages:
- Streamlined Communication: Legal and financial matters often overlap, and having a unified team ensures smooth coordination.
- Time Efficiency: Save time by dealing with one service provider instead of coordinating between separate entities.
- Comprehensive Compliance: A combined team ensures all legal and financial obligations are aligned, reducing the risk of missed deadlines or errors.
- Expert Guidance: Whether you’re registering a company, drafting contracts, or handling tax matters, an integrated team provides seamless support.
Our Legal and Accounting Services in Bulgaria
We offer a wide range of services to meet the needs of businesses, freelancers, and individuals:
Accounting Services in Bulgaria
- Monthly Accounting and Payroll Services
- Bookkeeping and payroll management.
- Social security contributions and employee tax calculations.
- Tax Residency Services
- Assistance with obtaining tax residency certificates in Bulgaria.
- Advice on compliance with Bulgarian tax laws.
- VAT Registration and Reporting
- Support with VAT registration for businesses and freelancers.
- Preparation and submission of monthly VAT declarations.
- Annual Financial Statements and Returns
- Preparation of legally compliant annual reports and tax returns.
- Registered Address for Companies
- Professional registered office address services, including mail handling.
Legal Services in Bulgaria
- Company Registration in Bulgaria
- Complete support for establishing a business entity, from preparing legal documents to registering with the Trade Register.
- Freelancer Registration in Bulgaria
- Guidance and assistance for freelancers to register their activity and meet compliance requirements.
- Legal Advice and Documentation
- Drafting and reviewing contracts, legal representation, and more.
- Debt collection in Bulgaria
Why Choose Us for Accounting Services in Bulgaria?
Our team offers a one-stop solution for all your accounting and legal needs. By partnering with us, you benefit from:
- Experienced Professionals: Our accountants and legal experts have extensive experience working with Bulgarian businesses and freelancers.
- Tailored Services: We understand that every client is unique, and we provide customized solutions that suit your specific requirements.
- Ongoing Support: Whether it’s monthly bookkeeping, annual tax returns, or legal consultation, we’re here to support you year-round.
If you’re looking for reliable accounting services in Bulgaria, comprehensive legal support, or help with company or freelancer registration, contact us today! Let us simplify your business journey and ensure you stay compliant while focusing on growth.
You can reach us at:
tel.: +359895443792
email: ivanov@bi-lawfirm.com