Tax & Legal

Taxes and their implications impact all of us in our personal and corporate activities. At the same time taxation is not a simple matter and it needs to be interpreted by experienced and knowledgeable specialists.

At PrimeConsult Ltd, we deliver a comprehensive tax compliance, planning and advisory service to a wide range of business. Even further, we are our clients’ trusted advisor who helps them to minimise their tax exposure and eventually improve their bottom line.

WE CAN SUPPORT YOU IN THE FOLLOWING AREAS:

• Tax plan­ning and assess­ing of res­i­dents’ cor­po­rate tax exposure, income tax due date as well as annual tax assess­ment in con­nec­tion with the year-end clo­sure of accounts and annual income tax return
• Assis­tance to res­i­dents for tax on self-employ­ment, social secu­rity tax brack­ets, due date for income tax and annual tax return for self employed indi­vid­u­als
• Con­sul­ta­tions on Bul­gar­ian VAT Tax Act, the applic­a­ble VAT in Bulgaria, VAT reg­is­tra­tion and prepa­ra­tion of monthly VAT tax returns
• Acting as a Bulgarian VAT agent for claiming VAT refunds in Bulgaria
• Rep­re­sen­ta­tion before the national insti­tu­tions for taxes of non-residents for with­hold­ing taxes and taxes on div­i­dends, sub­mis­sion of non-resident tax returns, income tax on for­eign income, pay­ment of tax on income from shares and income tax on div­i­dends
• Estate plan­ning, prop­erty tax ser­vices, inher­i­tance tax and inher­i­tance tax rates, advices about with­hold­ing tax, taxes with­held from Bul­garia, with­hold­ing treaty and cor­po­ra­tions tax

GENERAL TAX RATES IN BULGARIA:

• Corporate Income Tax – 10% on the annual net income
• Tax on dividends – 5% * Dividends payable to a legal entity that is a tax resident in an EU / EEA member state are exempt from withholding tax
• Tax on interest – Interest paid to a non-resident is subject to a 10% withholding tax unless the rate is reduced under a tax treaty
• VAT – 20% standard rate. Exports and intra-community supplies are zero-rated. VAT on hotel accommodation services is at the rate of 9%
• Personal Income Tax – 10% on the generated personal worldwide income for residents. Nonresidents pay tax only on their Bulgarian-source income
• Maximum insurance base on which contributions are due: 2,600 BGN per month.