This article will be helpful for both the owners of the Bulgarian companies, as well as those who are planning to set up such a company.
Regardless of the purpose for which you are setting up company in Bulgaria, for business, for purchasing land or for registering car – you must submit reports annually and if you earn revenue you must also pay taxes and insurance. Penalties for legal entities in Bulgaria are quite large, you should not neglect this, because anytime and anywhere business is an activity that you engaged in at your own risk and under your own responsibility. No one will defend the company’s interests, except you.
Don’t you agree that while setting up business in a country you are not citizen of, you have to be especially careful with unfamiliar laws, customs and regulations.
Special attention in regards to investment and partners has always been a feature of skilled entrepreneurs and the accounting company that serves your business is your first friend and helper. It is difficult to ignore the importance of quality accounting, if you have entered the market for longer than 1 day and do not want to lose the company and its assets.
Selection of accountants in Bulgaria, unfortunately, is quite a nerve wracking process. We personally faced this situation when an employee of the accounting company located in the building of tax administration in Varna took 30 minutes to look up answer to a simple question in “Google” and tried to charge 25 euros/hour for consultation.
There are many cases when accountants did not report properly, caused customers a fine of 3000 levs and then just shrugged. There were situations when only expenditures and not the money receipt (which is mandatory) were reported for people who purchased land or car.
Such examples are countless, especially when people do not look carefully into accounting issues and give their companies to the hands of the first accountant they come across. We believe that the existence of a huge number of incompetent Bulgarian accounting companies, conducting business wrongly and untimely, is the result of absence of a large number of consumers who take tax reporting seriously. It is their right, but we are sure that tax authorities will eventually get to everyone and you should not ignore the issue to avoid being left with nothing.
Our company in the process of selecting accounting companies to serve our own needs (and we treat our legal status and purity of business with great care) has developed a certain strategy for selecting and signing contracts with accounting companies, this strategy partially imposes the responsibility for paperwork on the accounting company and that ensures timely and quality service.
We can individually select for you the company which will serve your accounting needs. Meanwhile, it is possible to service companies remotely, for example, if you are in Sofia or Burgas, or in any other city in Bulgaria, or even in any contry in world, we can still organize accounting services for your Bulgarian company with the least amount of time required from you.