Ten offices of NRA with new bank accounts from 1 Aug 2018

Ten offices of NRA with new bank accounts from 1 August 2018.

10 offices of the NRA will have new bank accounts for payment of taxes, social security contributions and other public receivables from 1 August 2018. The change is due to the merger of EIBANK into United Bulgarian Bank, where the revenue administration has kept accounts so far. The new accounts will include payments from citizens and legal entities with registration in all NRA offices in Sofia, including the registered in "Average taxpayers and insurers", as well as the offices of Sofia-district, Gabrovo, Dobrich, Kardjali, Montana, Pernik, Rousse, Stara Zagora and Yambol. For more details, please read on the NRA's website http://www.nap.bg/news?id=3687.

Tax relief for children

According to a change in the Personal Income Tax Act (effective as of 01.01.2015) under certain conditions tax deductions for children can be used.

Declarations were published on 11.11.2015.

For further information - please contact your accountant at BAND or send a mail to:office@band-cm.com.

Consolidated Bulgarian version of ISFR

consolidated version  of International Financial Reporting Standards in Bulgarian language was published and it is available at the folowing link:

http://eur-lex.europa.eu/legal-content/BG/TXT/?qid=1399554915270&uri=CELEX:02008R1126-20140101.

Full text of the Bulgarian language can be downloaded here

IAS Changes

On 20th November 2013 Regulation (EC) 1174/2013 with Regulation (EC) 1126/2008 were adopted amendments to certain International Standards in relation to International Financial Reporting Standards (IFRS) 10 and 12 and IAS 27.

The changes affect the basic definition of an investment company and is available from January 1, 2014.

The full text of Reglametna can be downloaded here.



Regulation (EC) 1174/2013

BY 31.7.2013 TO BE SUBMITTED DECLARATIONS FOR Q2 2013

By the end of July 2013 the individuals who define themselves and pay the advance tax due must submit a new declaration under Art. 55, para. 1 of PITA and art. 201, para. 1 of CITA ( model 4001 ) for taxes due for the second quarter of 2013. These are the individuals in the second quarter gained income, such as landlords of individuals, as well as notaries, lawyers, dentists and others self-employed. Declaration is made ​​three times a year - in terms of payment of taxes. Since the income acquired during the fourth-quarter of this year no tax is due, and therefore is not declared. 

Declaration of art. 55, para. 1 of PITA and art. 201, para. 1 CITA also must be filed by any entity or self-employed person who pays income to individuals other than those under contract and is liable to withhold tax, namely:

  • income from non relationships or rental or other onerous assignment of rights or property to which the withholding tax deducted by the payer. In these cases due advance taxes paid and declared the NRA until the end of the month following the quarter in which it is receive income for income paid during the fourth-quarter of this year no tax is due and therefore not reported;
  • income subject to final taxation under Chapter Six of the Law on Income Tax of Natural Persons Act (PITA). These are taxes levied on income of foreign individuals (eg, fees for services, penalties, damages, scholarships in Bulgaria, interest income, etc.) as well as the income of local and foreign individuals (eg, dividends, liquidation proceeds, etc..)

Form is submitted and withholding taxes under the corporate income tax, such as taxes on dividends and liquidation quotas in favor of foreign companies and local companies who are not traders, including municipalities.

31 July 2013, with the new model 4001 is declared and taxes were due but not paid at 31. 12.2012 Generally these are taxes in accordance with PITA had to be made ​​by that date, but for one reason or another, it is not made ​​by the debtor.  

More information about completing the declaration, payment of taxes and new deadlines can get the phone for information on NRA 0700 18 700 the cost of a call.

 

17/07/2013

Source: National Revenue Agency