Bulgaria offers one of the best taxation systems within EU. The country as a member of the European Union applies a worldwide income tax system and residents are taxable on their worldwide income. Bulgarian companies are subject to a flat tax rate of 10% and the taxable profit is the annual financial result adjusted for tax purposes. Bulgaria also offers a flat personal income tax rate of 10%. Bulgaria’s taxation framework is exceptional from an EU and other non-EU onshore zones perspective.
The currency of the country is Bulgarian Lev (BGN) and it is connected to the EUR. The official exchange rate is fixed and it is 1 BGN=1.95583 EUR.
Bulgaria applies IFRS as a statutory accounting basis. Only certain entities are allowed to apply the national financial reporting standards for small and medium-sized enterprises.
Main business entities are the limited liability company, the joint stock company, sole trader and branch of a non-resident company.
Please find the tax highlights in Bulgaria :
|Corporate profit tax
|Personal income tax
|Value added tax
|Other tax, duties and fees
Innovires lawyers could professionally assist you starting your activity in Bulgaria. We offer:
- Company establishment;
- Personal tax residency assistance;
- VAT registration and accounting services;
- Providing full legal and accounting assistance
- Drafting/amending agreements with partners and clients;
Please, contact us for more information.