Changes in the deadlines for filing annual tax returns (ATR) and for publishing annual financial statements (AFS)

annual tax declarations annual financial records Bulgaria

From the beginning of 2021, the deadline for filing annual tax returns (ATR) for corporate tax (until March 31) has been changed, and the new deadline is now from March 1 to June 30. The same applies to the deadline for payment of corporate tax, which has been changed by 3 months and is now until June 30.

The deadline for paying tax on expenses has also been changed by three months and is now until June 30.

The change in the deadlines optimizes the preparation of the annual tax returns of the companies and improves the process of annual accounting closing. Systematic and predictable consistency in the fulfillment of the obligations for declaring and submitting information to the National Revenue Agency is also achieved.

The monthly and quarterly advance payments for the current calendar year will now be declared with a sample declaration from March 1 to April 15 of the same year, and not together with the annual tax return, as it was before.

As a result of the postponement of the deadlines for declaring and paying the annual corporate tax and the related changes with regard to the advance taxation, a deadline has been introduced for declaring changes in the advance payments (to reduce or increase the advance payments when the declarant considers that they will differ from the due annual corporate tax), which is until November 15. The advance payment for the month of December and the advance payment for the third quarter will now be paid by December 1.

Persons carrying out economic activity as traders within the meaning of the Commercial Law, including sole proprietors and natural persons registered as farmers, who have chosen to tax their business income with tax on the annual tax base, will now file an annual tax return within March 1 to June 30 of the year following the year of acquisition of the income.

In connection with the above changes in the deadlines for filing annual tax returns under the Corporate Income Tax Act and the Personal Income Tax Act (until June 30), the deadlines for publishing annual financial statements (AFS), consolidated financial statements and annual reports have been extended. They will have to be published by September 30. This change affects all traders within the meaning of the Commercial Law, non-profit legal entities and other enterprises.

The deadline for publishing the declarations submitted by the enterprises for activities not performed by them during the year has been extended until June 30.

The GCE team will provide you with timely and competent assistance in preparing and submitting annual tax returns, annual financial statements and other documents.

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