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davshaz
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PostSubject: Yearly accounts   Mon Feb 07, 2011 11:22 am

I have just had this from my agent and wondered if the price was ok? I can't remember what we paid last year

Annual Company Financial Reports
All Bulgarian Companies must complete and submit an annual Company Financial Report to the Trade Registry Agency prior to June 30th according to Bulgarian law. Failure to do so could result in a fine of between 1,500BGN &
3,000BGN.
The cost for this service to our clients will be 140BGN inclusive of 52.50BGN government tax.


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starlite
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PostSubject: Re: Yearly accounts   Mon Feb 07, 2011 11:38 am

thats not bad. it will cost me 3 lev for tax return completed, 10 for financial nil report and 52 levs to submit to register. g if your here in bulgaria then there is a lot you can do for yourselves.
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oddball
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PostSubject: Re: Yearly accounts   Mon Feb 07, 2011 11:01 pm

s

Hi Davshaz

Contact Borislov at Nominal Ltd on the link at the top of the page, he is very helpful and will steer you in the right directions or here are some detials
Nominal Ltd

Phone numbers:
++359 56 843 042....................++359 889 381 394

E-mail for Tax return: [You must be registered and logged in to see this link.]
E-mail: [You must be registered and logged in to see this link.]
Skype name: nominal-ltd
Feedback:

Oddy s

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Andy
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PostSubject: Re: Yearly accounts   Mon Feb 07, 2011 11:09 pm

I will need an accountant once I find a property do you know what his charges are.
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oddball
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PostSubject: Re: Yearly accounts   Mon Feb 07, 2011 11:34 pm

Andy wrote:
I will need an accountant once I find a property do you know what his charges are.

Hi Andy check it out here

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Oddy s

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cheekychops
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PostSubject: Re: Yearly accounts   Tue Feb 08, 2011 10:04 am

Looking at the figures they quote it all looks quite reasonable to me but I can't remember what I paid last year however I don't think it was as cheap as that I'm fairly sure I paid something nearer the 200 mark.
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tonyb60
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PostSubject: Re: Yearly accounts   Tue Feb 08, 2011 10:13 am

We pay around 230nb.

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Brian1
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PostSubject: Re: Yearly accounts   Tue Feb 08, 2011 1:48 pm

140 leva sounds good to me I paid 240 last year but I do think this charge does differ from one place to another but in some cases I have seen charges of over 500 leva why? I don't know but if others are happy to pay these extortionate price then thats upto them but I'm a penny pincher and need to save where I can.
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nominal
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PostSubject: Re: Yearly accounts   Tue Feb 08, 2011 4:35 pm

Hi, the price mentioned at the top of the topic is obviously for preparing and submitting only. You have to check exactly what and how much you are paying for.
You know that in the "
advertisings"
not everything is clear. For example if your company is not trading (inactive) your obligation to the BG government concerning accountancy (I don't speak about municipality taxes and fees for houses, lands, plots, cars, yachts, boats, motorcycles etc.) are as follow:
1. Up to 31st of March every year you have to submit a tax declaration (tax return) to the National revenue agency where your company is registered.
2. Up to 31st of March you have to submit a declaration that your company is inactive to the National Statistics institute.
3. Up to 30th of June you have to publish your Annual financial reports to the Commercial registry (The registry itself collects a fee of 50 BGN).
That's it.
If all 3 jobs cost 140 BGN it is very very good. But I doubt it. If only point 3 (Preparing and submitting AFR to CR) costs 140 BGN - the price is quite good, but not the lowest (for example our fee is 100 BGN including all charges).
But if only submitting without preparing costs 140 BGN than Hm, it looks too much for a courier service only.
So please, ask carefully what this payment is meant for and as we accountants say "
Take informed decission"
! g
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davshaz
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PostSubject: Re: Yearly accounts   Tue Feb 08, 2011 5:05 pm

Here is a full copy of the text I received

Company Tax Returns

All Bulgarian companies must submit a Company Tax return to the local tax office in which the company was registered prior to 31st March 2011. Failure to do so could result in a fine of between 500BGN &
3,000BGN.
Costs for accountancy and administration charges for our clients who instruct us to complete this service before 20th March will be 80BGN. The cost for our clients who instruct us to complete this service between the 21st and 29th March will be 120BGN.
Please instruct us as soon as possible, so that the accountant's time can be managed effectively.

Annual Property Tax (Council Tax)

If you have purchased a property in Bulgaria, Property tax will need to be paid at the local Municipality office of the property. If this tax is not paid on time, interest will be accrued at a daily rate. A property cannot be sold with Property Tax arrears. It is important that you keep up to date with the payment of these taxes.
The cost for us to enquire as to amount owed and make payment at relevant Municipality office, is dependent on how many properties are owned. If you own one property the cost will be 20BGN plus property taxes per year, any subsequent properties will be charged at an additional 10BGN plus taxes per property.

Annual Company Financial Reports

All Bulgarian Companies must complete and submit an annual Company Financial Report to the Trade Registry Agency prior to June 30th according to Bulgarian law. Failure to do so could result in a fine of between 1,500BGN &
3,000BGN.
The cost for this service to our clients will be 140BGN inclusive of 52.50BGN government tax.
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nominal
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PostSubject: Re: Yearly accounts   Tue Feb 08, 2011 5:25 pm

I see, so you have to pay 80 - 120 BGN for tax return.
You should ask does it include a declaration to Statistics.
Also, you have to pay 140 BGN for preparing and submitting Annual financial report.
Total 220 BGN or 260 BGN if you send your request after 21st of March.
Well, the price isn't very shocking. By the way 52 BGN is not a tax but a Commercial registry fee of 50 + probably 2 BGN bank charge.
One more thing:
Financial reports can be submitted only by:
1. You personally (as a manager of the company)
2. A lawyer (with ordinary POA)
3. The drawer of the POA (certified accountant) with notarized POA.
If in this price the lawyer fee is included too, it's perfect.
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fido
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PostSubject: Re: Yearly accounts   Wed Feb 09, 2011 9:12 am

This information is all very useful, I wish I had joined this forum sooner T

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LisA
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PostSubject: Re: Yearly accounts   Wed Feb 09, 2011 9:16 am

Hi fido you will find a lot more if you look around g
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davshaz
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PostSubject: Re: Yearly accounts   Wed Feb 09, 2011 10:47 am

Just to clarify the matter I emailed the company that does my accounts and this was their reply


Dear Dave

The tax return fee of 80 lv. is inclusive of accountancy fees to compile and submit a return to the NRA and file a declaration to Statistics for non trading companies.

The financial report fee of 140 lv. is inclusive of accountancy fees to prepare and submit report to Trade Register and registry fee of 50 lv + bank charge of 2.50

Best Regards
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nominal
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PostSubject: Re: Yearly accounts   Wed Feb 09, 2011 11:45 am

Well, it looks good. Finally I see that other BG companies are reducing their fees. By now, what I sow is how some BG companies constantly are trying to overcharge foreigners. For example our fees (which are not changed since 2008) are 75 BGN for a nil tax return and 100 BGN for Commercial registry submitting (with notarized POA) or 150 (through a lawyer).
You can pick this company if you like. Probably you have to notarize a POA for them. And ask for a confirmation. Usually we send a scanned copy of the NRA or CR confirmation of acceptance. Good luck!
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