Taxation of self-insured persons

For the income acquired from his activity in Bulgaria, the self-insured person is obliged to issue a reporting document.

A self-employed person, who has acquired income from his activity and has declared to the payer of the income the circumstance that he is self-insured, owes in advance a tax on the difference between the taxable income and the legally recognized expenses for his activity, as well as the social security contributions, which he is obliged to make at his own expense for the months of the quarter during which the taxable income has been acquired.

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Insurance of self-insured persons

The obligation for insurance of self-insured persons in Bulgaria arises from the day of commencement or resumption of employment activity and continue until its interruption or termination. Upon commencement, interruption, resumption or termination of any employment activity, the self-insured person submits a declaration according to a sample.

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Exercising of labor activity and social security insuring of the owner and the manager of a limited liability company (Ltd.)

Bodies of the limited liability company (LTD.) in Bulgaria are a general meeting and a manager (managers), as the manager may not be a partner. The manager organizes and manages the activity of the company in accordance with the law and the general meeting’s decisions. The company is represented by the manager. Upon several managers each of them can act alone unless the Articles of association provides otherwise. In regard to the sole owner limited liability company (LTD.), the issues that are from the competence of the general meeting are decided by the sole owner of the company. The relations between the company and the manager are settled by a contract for assignment of the management. The contract is concluded in writing on behalf of the company through a person authorized by the general meeting of the partners or by the sole owner.

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