We act for and advise individuals and legal entities on all aspects of taxes in Bulgaria. In the field of direct taxation, the Corporate Income Tax Act (CITA) regulates the tax levied on profit of local legal entities. Foreign legal entities, that gain profit from having a permanent establishment in the country, are also subject to corporate tax in Bulgaria. CITA stipulates a flat rate of only 10% corporate tax.
Our accountants and lawyers deliver full range of direct taxation services such as:
- developing a taxation policy for your Bulgarian company that complies with all national and EU tax regulations
- advising on how to take advantage corporate tax exemption; for example special purpose investment companies can be exempted from corporate tax upon meeting certain requirements
- creating tax minimization strategy that is tailored to serve your specific commercial objectives
- representation before the National Revenue Agency protecting your company and/or your private interests
- determining the taxable person and the profits thereof that are subject to tax
- conducting assessment of depreciable assets for tax purposes
- conducting utilization of losses for tax purposes; under CITA the tax loss can be transferred over to the next year for up to 5 consecutive years in order to offset the taxable profit
- advising on taxation between related parties such as group of companies
- advising on how to take advantage of tax retention
We also prepare and file all required documents for corporate tax return and personal income tax return.