Tax Filing Season Begins in Bulgaria

Business » FINANCE | January 3, 2017, Tuesday // 08:28| Views: 2006 | Comments: 0
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Bulgaria: Tax Filing Season Begins in Bulgaria File photo, BGNES

Taxpayers in Bulgaria kicks off on Tuesday, the first workday of 2017.

Personal income and corporate tax returns have to be submitted within the next several months. This can be done both on paper and online, with the latter method implying deductions.

For natural persons, the deadline is May 02 - the first business day of May, the previous one being Labour Day. Those submitting returns online by March 31 may see a deduction of up to 5% of the tax they have to pay additionally (the share levied under non-labour contracts). The deduction, however, cannot be bigger than BGN 1000.

Legal persons must take the step by the end of March. A 1% discount of corporate taxes can be used by those filing their tax returns online.

A fine of BGN 500 (EUR 250) will be imposed on taxpayers who do not file their returns despite having earned an income additional to their labour contract.

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