Yes. Every registered Bulgarian company is legally required to maintain accounting records, prepare annual financial statements, and file a corporate income tax return — regardless of whether the company conducted any business activity in the reporting year. Zero-activity companies file a simplified nil return. Failure to file attracts penalties from the National Revenue Agency.
Accounting Services in Bulgaria
Full-Service Accounting, Tax & Compliance for Foreign-Owned Bulgarian Companies — Managed Remotely
10% Flat Corporate Tax
100% Remote Service
English Support
EU-Compliant Reporting
KEY FIGURES — BULGARIAN TAX & ACCOUNTING
10% Flat corporate income tax rate
20% Standard VAT rate
31 Mar Annual tax return deadline
100% Remote accounting delivery
Accounting services for foreign-owned Bulgarian companies
Every Bulgarian company — regardless of whether it is actively trading, dormant, or newly registered — has ongoing legal obligations under Bulgarian accounting and tax law. These include monthly bookkeeping, periodic VAT returns, annual financial statements, and corporate income tax filings. Missing these obligations leads to penalties, interest charges, and in serious cases, forced deregistration.
Bulgaria for Business VCC provides a full-service, remotely delivered accounting and tax compliance function for internationally managed Bulgarian companies. Our clients are foreign entrepreneurs, holding structures, e-commerce businesses, IT companies, consulting firms, and trading companies — all managed from outside Bulgaria, all requiring professional local accounting support in English.
ACCOUNTING IS MANDATORY: Under Bulgarian law, every registered company must maintain accounting records and file annual financial statements — even if it has had zero business activity during the year. A dormant company files a nil corporate tax return and a simplified balance sheet. Bulgaria for Business VCC handles this for all client companies as part of every accounting package.
Our accounting services — what we cover
Our accounting service covers the full spectrum of financial compliance obligations for Bulgarian companies. All services are delivered remotely, in English with a dedicated accountant assigned to each client.
Bulgarian tax overview
Bulgaria’s tax system is straightforward by EU standards — a flat 10% corporate income tax rate, a 20% standard VAT rate, and simple employment contribution structures. The table below provides an overview of all taxes and contributions applicable to a typical Bulgarian company.
| Tax / Contribution | Rate | Key details |
|---|---|---|
| Corporate Income Tax (CIT) | 10% | Flat rate on net profit. One of the lowest in the EU. Filed annually by 31 March of the following year. Advance quarterly instalments required for companies with prior-year revenue above BGN 300,000. |
| Value Added Tax (VAT) | 20% (standard) / 9% (reduced) / 0% (exports & intra-EU) | Mandatory registration when annual turnover exceeds BGN 166,000 (~€85,000). Voluntary registration from day one recommended for B2B companies. Monthly or quarterly filing. |
| Dividend withholding tax | 5% | Applied to dividend distributions to individuals. Distribution to corporate shareholders in treaty countries may be reduced to 0–5% under applicable double taxation agreements. |
| Personal income tax (employee) | 10% | Flat rate on employment income. Withheld at source by the employer and remitted monthly to the National Revenue Agency. |
| Social security contributions | Employer: ~18.92% / Employee: ~13.78% | Contributions to the state pension, health insurance, and social funds. Calculated on gross salary. Declared and paid monthly. |
| Local municipal tax | 0.1%–0.45% | Annual tax on immovable property and vehicles owned by the company. Rate set by local municipality. Low administrative burden. |
DOUBLE TAXATION TREATIES: Bulgaria has signed over 70 double taxation treaties covering most major business partner countries — including Russia, Ukraine, the UAE, UK, Germany, France, the Netherlands, and the USA. These treaties can significantly reduce withholding tax on dividends, interest, and royalties paid by a Bulgarian company to foreign recipients. We advise on the applicable treaty benefits for your specific shareholder structure.
Bulgarian accounting compliance calendar
The table below outlines the key recurring deadlines throughout the accounting year for a standard Bulgarian company with VAT registration and employees. Bulgaria for Business VCC tracks and manages all these deadlines for every client — you receive reminders and confirmations, never missed filings.
| Period | Key accounting & tax obligations |
|---|---|
| January | Monthly VAT return (for December) · Monthly payroll declarations · Advance CIT instalment (Q4 of prior year) |
| February | Monthly VAT return (for January) · Monthly payroll declarations · VIES declaration (EU cross-border transactions) |
| March | Monthly VAT return (for February) · Monthly payroll declarations · Annual corporate income tax return (by 31 March) · Annual financial statements preparation |
| April | Monthly VAT return (for March) · Monthly payroll declarations · Annual financial statements filed with NSI (by 30 June) · Advance CIT instalment Q1 |
| June | Annual financial statements — deadline for NSI filing (30 June) · Interim accounting review |
| July | Monthly VAT return (for June) · Advance CIT instalment Q2 · Mid-year financial review |
| September | Monthly VAT return (for August) · Advance CIT instalment Q3 |
| October | Monthly VAT return (for September) · Advance CIT instalment Q4 · Annual financial statements filed with Registry Agency (by 30 September) |
| December | Year-end closing procedures · Inventory count (where applicable) · Advance CIT instalment final · Preparation for annual accounts |
VAT returns are filed monthly (by the 14th of the following month) for all VAT-registered companies. Quarterly VAT filing is available in limited circumstances. Payroll declarations are filed monthly. Advance CIT instalments are due on the 15th of March, June, September, and December.
Accounting packages & pricing
All accounting packages are monthly, fixed-fee, and confirmed in writing before engagement. There are no surprise charges. Additional services — VAT registration, payroll setup, ad-hoc tax advisory, annual report filing — are priced transparently and added to the base package only on request.
Starter
From €80/mo
- Monthly bookkeeping (up to 30 transactions/month)
- Monthly VAT return preparation & filing
- Annual corporate income tax return
- Annual financial statements (NSI filing)
- NRA correspondence handling
- Dedicated accountant
Business
From €180/mo
- Everything in Starter, plus:
- Monthly bookkeeping (up to 150 transactions/month)
- Payroll for up to 5 employees
- Social security & health insurance declarations
- VIES reporting for EU transactions
- Quarterly management accounts
- Ad-hoc tax advisory (2 hours/month)
Enterprise
From €350/mo
- Everything in Business, plus:
- Unlimited transactions
- Payroll for unlimited employees
- Full transfer pricing documentation support
- Monthly management accounts & KPI dashboard
- Annual audit liaison
- Priority response — same-day turnaround
- Dedicated senior accountant
All prices are stated excluding Bulgarian VAT (20%). Package pricing is based on standard transaction volumes and company complexity. A tailored quote is provided for companies with high transaction volumes, multiple currencies, or complex cross-border structures. Annual pre-payment discount of 10% available on all packages.
Why choose Bulgaria for Business VCC for accounting?
There are many accounting firms in Bulgaria. What makes Bulgaria for Business VCC different is our exclusive focus on internationally managed companies — and the systems, language skills, and processes we have built specifically around their needs.
Specialists in foreign-owned companies
We work exclusively with internationally managed Bulgarian companies. We understand the challenges — remote management, cross-border transactions, foreign founders — and our processes are built around them.
English-speaking team
All client communications, reports, and advisory are available in English. No language barrier between you and your accountant.
Fully remote delivery
Everything is handled digitally. Documents are exchanged securely online, reports delivered by email, and all filings made electronically. No office visits required.
Integrated with company formation
Our accounting service begins immediately upon company registration — no gap, no handover delay. The same team that registers your company handles your ongoing compliance.
Fixed monthly fees
No surprise invoices. You know exactly what accounting costs each month. Additional services (VAT registration, payroll setup, ad-hoc advisory) are priced transparently.
Proactive compliance management
We track your deadlines, remind you of obligations, and file on time — every time. You receive regular reports and are never caught off-guard by a missed deadline or penalty.
PENALTY NOTICE: The Bulgarian National Revenue Agency (НАП) actively enforces accounting and tax filing deadlines. Late or missing VAT returns attract automatic interest at 10% per annum. Late annual tax returns carry fines from BGN 500 to BGN 3,000 for first offences. Repeated non-compliance can result in forced company deregistration and personal liability for directors. Bulgaria for Business VCC tracks all deadlines and files on time — our late-filing rate for managed accounts is zero.
Frequently asked questions
Key questions answered for foreign companies considering a Bulgarian branch office.
Yes. Bulgaria for Business VCC delivers all accounting services remotely. Documents are exchanged digitally, filings are made electronically, and all reporting is delivered by email. You do not need to visit Bulgaria for any routine accounting or tax compliance purpose.
VAT registration becomes mandatory when a company’s taxable turnover in Bulgaria reaches BGN 166,000 (approximately €85,000) within any 12-month rolling period. Voluntary VAT registration is available from day one of company registration and is strongly recommended for companies conducting B2B transactions with EU partners, as it enables VAT-free intra-EU invoicing.
Bulgaria’s corporate income tax rate is a flat 10% — the lowest in the European Union. This applies to net taxable profit after allowable deductions. The annual return is filed by 31 March of the following year. Advance quarterly instalments are required for companies with prior-year revenues exceeding BGN 300,000.
Bulgarian companies follow the National Accounting Standards (NAS — Национални счетоводни стандарти), which are substantially aligned with IFRS for SMEs. Larger companies and companies with public interest may be required to apply full IFRS. Bulgaria for Business VCC prepares accounts under NAS for all standard client companies.
Dividend distributions from a Bulgarian company to an individual shareholder are subject to a 5% withholding tax in Bulgaria. For corporate shareholders, the rate may be reduced or eliminated under applicable double taxation treaties. We advise on the most tax-efficient distribution structure for your specific shareholder situation.
Late filing of VAT returns attracts interest on unpaid tax (currently 10% per annum base rate plus penalty). Late filing of annual tax returns carries fines from BGN 500. Bulgaria for Business VCC tracks all deadlines proactively and files on time — late filings under our management are exceptionally rare.
Yes. We handle VAT on EU cross-border services and goods transactions, VIES (EC Sales List) reporting, intra-community acquisition and supply declarations, and OSS (One Stop Shop) registration advisory. This is standard practice for our internationally managed client companies.
Get a free accounting consultation today
Tell us about your company — we will recommend the right accounting package and provide a fixed monthly fee proposal within 24 hours.
Starter from €80/mo
Business from €180/mo
Enterprise from €350/mo
All prices excl. VAT
Business from €180/mo
Enterprise from €350/mo
All prices excl. VAT
Bulgaria for Business VCC — Your Trusted Partner for Business Expansion into Bulgaria and the European Union. All prices exclude VAT. Tax rates and filing deadlines are correct as of 2024–2025 and are subject to change. For advice specific to your company’s situation, please consult our team directly.