In connection with the “EU Blue Card” type residence and work permit received by foreign citizens, the issue of health insurance for their family members who wish to reside in Bulgaria arises.
It should be borne in mind that in order for a person to be liable for health insurance in Bulgaria, he should be within the scope of the persons who are compulsorily insured by law.
When executing a contract for property management and maintenance in Bulgaria, a question arises for the tax treatment of the funds received by the company which manages and maintains the property in connection with the contract.
A situation is possible in which a person registered in Bulgaria under the Value Added Tax Act (VATA) owns real estate, purchased with a tax credit, with which the person wants to register a new company. Several important questions arise in this hypothesis. First of all, is it possible to contribute with real estate purchased with a tax credit to a new company that is not a VAT registered person. The second important question that should be answered is what would happen to the tax credit for the real estate in the event that the new company is a registered or non-registered person for VAT purposes.
A situation is possible in which the activities of a Bulgarian company have been actually carried out in a previous month or accounting period, but due to the established reporting organization, invoicing has been carried out in the following month. In this case, the question arises to which period the invoiced company income and expenses refer. Continue reading “Invoicing period of company income and expenses”
I. General provisions:
Each partner in a limited liability company (LLC) in Bulgaria is entitled to a liquidation share. Each partner has a partnership share of the company’s property, the amount of which is determined according to his share in the capital. The share in the capital determines the property rights of the partners, one of which is the right to a liquidation share.
Continue reading “Taxation of an individual upon receipt of a liquidation share in an LTD.”
When providing services to foreign clients, Bulgarian companies find themselves in a situation where they must document the payment of taxes abroad to the Bulgarian tax authorities.
In the event of a change in the manager of a limited liability company (LLC) registered in Bulgaria, the question arises from which moment the newly elected manager should be entered in the VAT and Intrastat declarations, in the company’s reports, etc.
When concluding a civil contract in Bulgaria, the question arises as to what tax the income received under it is taxed.
Taxable under the Personal Income Tax Act (PITА) is the income from all sources acquired by a taxable person during the tax year, except for income that is exempt from tax by law.
Continue reading “Declaration of income received under a civil contract”
I. General provisions:
Each partner in a limited liability company (LLC) in Bulgaria has the right to participate in the distribution of the company’s profit. Each partner has a partnership share of the company’s property, the amount of which is determined according to his share in the capital. The share in the capital determines the property rights of the partners, one of which is the right to part of the profit (dividend right).
Continue reading “Taxation of an individual upon receipt of a dividend in an LTD.”
The registration of a branch of a foreign merchant in Bulgaria does not lead to the creation of a new legal entity, but only to a territorially and organizationally separated part of it.
