September 30 is the deadline for submitting corrective declarations by individuals and legal entities. Individuals and companies have an opportunity to correct one-time the annual income tax return. The correction could be done by submitting...
Read full article...On 7.03.2022, National Revenue Agency in Bulgariahas published new thresholds of insurance income. Тhe minimum monthly salary currently is BGN 650 - for the period from January 1 to March 31, 2022 and will become...
Read full article...On 19.06.2020 In the State Gazeta (SG) no. 55, the Law for amendment and supplement of the VAT Act was promulgated, in force from 01.07.2020. The change is related to the temporary introduction of a...
Read full article...On 15.05.2020 a Project on amendment of VAT law was tabled by government in front of the Parliament. The government's proposal is a 9% VAT rate for restaurant or catering services that deliver "prepared or...
Read full article...Micro and small enterprises will be able to apply for grants support The Managing Authority of the Operational Program "Innovation and Competitiveness" 2014-2020 plans to announce on May 11, 2020 a selection procedure for...
Read full article...On 30.03.2020 the Bulgarian Government adopted a Decree laying down the conditions and procedure for the payment of compensation to employers in order to preserve the employment in a state of emergency due to corona-virus...
Read full article...On 18 March 2020, the Act of measures and reality during the state of emergency announced by decision of the National Assembly of 13 March 2020, was voted in plenary at first reading. Parliament's second...
Read full article...The Seminar took place at Bulgarian Chamber of Commerce and Industry conference hall. Highly-professional topics attracted around 50 Financial Managers from more than 30 companies, operating in different business fields, among that names such as...
Read full article...The Seminar will provide participants with the opportunity to hear from practitioners with more than 20 years of international experience about the procedures, regulations and practice concerning posting of workers in the framework of provision...
Read full article...The VAT registration in this case will be done under a simplified administrative procedure. This will avoid the need for individuals to visit both administrations. It is also proposed to remove the obligation for taxable...
Read full article...The draft amendments to the Tax and Insurance Procedure Code provide that legal persons who did not carry out activity during the tax year and who are exempted from submitting an Annual Activity Report should...
Read full article...The advance tax on rental income, other economic activity and on monetary income from other sources deducted from income paid in the second quarter of 2017, shall be declared by 31 July 2017.
Read full article...This acquisition strengthens the business of Leinonen Group in Norway and increases the clientele. With this acquisition comes new personnel that bring deeper competences in Norwegian market. “It is great to gain deep local knowledge...
Read full article...The Seminar will provide participants with the opportunity to hear from practitioners with more than 20 years of international experience about the procedures, regulations and practice concerning posting of workers in the framework of provision...
Read full article...From September 1, the National Revenue Agency will refund VAT without verification to companies meeting certain conditions. The simplified procedure for VAT refunding will be available only to companies that are determined by the revenue...
Read full article...This year Bulgaria is celebrating the 131th anniversary since the Unification of the Principality of Bulgaria and Eastern Roumelia. The Treaty of Berlin (1878) leaded by “Great powers” divided the newly restored from Ottoman...
Read full article...We are proud to announce Leinonen Bulgaria accounting, payroll and tax compliance services certification under the latest edition of the international quality management standards ISO 9001:2015. The certificate was issued by Bureau Veritas on 25th...
Read full article...How do you describe the current business environment in the country? Are any new tax rate or legislation changes influencing it? If so, how? The biggest news in our business sector is the new Accounting...
Read full article...On 10th of March Leinonen Bulgaria launched its Advisory Unit on a specially organized seminar named “VAT aspects in cross-border transactions with EU member States”. The idea was to share Leinonen expertise in EU VAT...
Read full article...New Accounting Act From 1 January enter into force a the new Accounting Act. The basic concept of the law is syncing with Directive 2013/34 / EC. The law introduces new criteria (common to all...
Read full article...The magazine Forbes published the research of The Brighton School of Business and Management for the top 10 places in the world to launch a Startup company. ”It is still not well known, but Sofia...
Read full article...Dead line for the last monthly or quarterly advance payments of corporate income tax is 15 December 2015. At the same time, this is the last period in which companies have the opportunity to adjust...
Read full article...Families with underage children will be able to enjoy tax benefits from this year. With 200 BGN will be reduced taxable income of one of the parents for a underage child. For two underage children...
Read full article...Applications for initial registration of traders with Commercial Register will be reviewed by the end of the next working day of their entry into the Commercial Register. Delivery will take place immediately after the examination...
Read full article...Applications for initial registration of traders with Commercial Register will be reviewed by the end of the next working day of their entry into the Commercial Register. Delivery will take place immediately after the examination...
Read full article...Established in 872, Norway is one of the original states of Europe and among the oldest still existing kingdoms worldwide. The country has obtained one of the highest standards of living in the world in...
Read full article...Sweden is the third-largest country in the European Union by surface area. The most important sectors of Sweden’s economy in 2014 were public administration, defence, education, human health and social work activities (24.5 %), industry...
Read full article...Finland is one of the most sparsely-populated countries in the EU. The most important sectors of Finland’s economy in 2014 were public administration, defense, education, human health and social work activities (22.2 %), industry (19.8...
Read full article...All legal entities resident and non-resident but with place of business in Bulgaria have to file a corporation income tax return no later than March 31, 2015 even if there is no tax payable. Obligied to submit...
Read full article...Generally, corporations have to pay their taxes in monthly or quarterly instalment payments depending on incomes earned in the previous fiscal year. No advance tax is payable if the total income is less than 300 000 BGN. Corporations...
Read full article...April 30th is the deadline for submission of annual tax returns of individuals and sole traders. Taxable income could include non-labor incomes such as: rental, financial, interest incomes and others. Some of the tax benefits...
Read full article...This year Property and Waste taxes can be paid in two equal installments – first one - up to 30th of June and the second instalment – till 31st of October. There is 5% discount...
Read full article...“Our main priority is to improve the business environment and reducing the administrative burden, "said Minister Lukarski in a meeting with German and French businesses in Bulgaria. The Ministry's efforts will be directed towards conducting...
Read full article...From the beginning of the year Germany's new measure has required a truck driver to be paid an hourly 8.50 euros gross. German minimum wage, which could defer form the wage paid in the driver's...
Read full article...The new system"mini-One-Stop-Shop" (MOSS) is already active in Bulgaria for suppliers of broadcasting, radio and television services and electronic services when the recipients are non-taxable persons. The suppliers can register under the special regime for...
Read full article...Automatic exchange of information between the tax administrations of EU Member States starts from 2015. Thus Local Tax offices will be able to collect information about their citizen’s incomes acquired abroad. In case the recipient...
Read full article...Families with up to three children will be able to enjoy tax benefits next year. With 200 BGN will be reduced taxable income of one parent for a child. For two children reduction will be...
Read full article...The maximum amount of insurable income is increased from 2400 BGN in 2014 to 2600 BGN in 2015. The minimum income increases as well to 360 BGN (equal to minimum wage). Distribution of social contributions...
Read full article...Concealment of social mandatory contributions in large size (over 3 000 BGN) is criminalized. Employers who do not pay contributions on real wages of its employees could face fines and imprisonment from 1 to 6...
Read full article...The procedure for announcing the amounts, representing hidden profit distribution in the annual tax declaration has changed. There is special line for this in the tax declaration. Costs and amounts which are not connected with...
Read full article...In 2015 final tax of 8 % is levied on all interest on bank accounts, including current and savings, not only the interest on deposit accounts, as was the previous line of taxation.
Read full article...From 01.01.2015 German residents, who realize income from rental equipment in Bulgaria, may be exempted from tax at the source under the Corporate Income Tax Act and Income Tax of individuals on the basis of...
Read full article...Withholding tax charging on income from interest and royalties, received from affiliated entities established in EU (subject to certain additional conditions) is 0 % from the beginning of this year. Earlier the tax was 5...
Read full article...Seminar Series consists of four events:Tuesday 1.4. Central European markets: Poland, Hungary, BulgariaTuesday 8.4. Scandinavian markets: Sweden, NorwayTuesday 15.4. Baltic markets: Estonia, Latvia, LithuaniaTuesday 29.4. Russian Markets: Russia, UkraineThe seminar series was done in cooperation with: In each event, gift cards (trip to Tallinn, Estonia) were awarded...
Read full article...The adopted amendments also provide companies registered under Bulgarian law for less than three years with the option to acquire ownership of agricultural land if the partners in the company, association members or founders of...
Read full article...We are proud to introduce our new office: Leinonen Norway, in Oslo.Interested in Norwegian markets?Contact our office in Oslo, and let us offer our expertise for your company's advantage.
Read full article...E-invoicing gives the opportunity for our clients’ customers to receive their invoices immediately without the need for actual printing and sending out. This saves paper as well as courier costs. E-invoicing also reduces the time...
Read full article...By the end of 2014, growers and breeders can pay up to 60% of the corporate tax, the rest is borne by the state. This was announced by the State Fund "Agriculture". The freed resources...
Read full article...The direct foreign investments in Bulgaria show decrease of 37% on an annual basis for the first six months of 2013: EUR 711 Million, compared to EUR 1,134 Million in 2013.Income from foreign tourists for...
Read full article...As of June 30 not refunded amount of value added tax (VAT) is BGN 776 million. The state has paid BGN 25 million in interest on late VAT refunds in 2012. Interest on late returns in...
Read full article...In recent years, the assessment of internal control has become a much higher priority of many companies. New auditing standards have required a more thorough review and reporting on internal controls and highly publicized fraud...
Read full article...Foreign direct investment in Bulgaria decreased by 20% year on year to EUR 49.2 million for the period January - March, shows a comparison of the unrevised data provided by the Bulgarian National Bank.The major...
Read full article...To use this relief, Bulgarians living abroad have to send a request in the NRA office and they may also need to prove that they reside outside of the country for more than 183 days...
Read full article...If an entity has not used tax credit for a good or a service it has purchased, but afterwards uses this good or service to perform taxable supplies, the entity has the right to use...
Read full article...The Commission for protection of personal data adopted a new Regulation concerning the minimum level of technical and organizational measures and admissible type of protection of personal data. The Regulation introduces five different types of...
Read full article...According to the new Corporate tax law whenever a prior year misstatement is discovered, the entity must notify the National Revenue Agency, which will take actions for correcting its tax liability. The methods for calculating...
Read full article...According to the VAT law, tax deduction will be available for the rent of vehicles as well as for any consumables and services related to their maintenance, repair and use. The restricted tax deduction regulations...
Read full article...Starting 1 January 2013, the tax on expenses (entertainment expenses, social expenses, expenses for additional voluntary insurance, expenses for food vouchers, expenses for vehicles used for managerial activity) will be accrued over the annual tax...
Read full article...Additional changes include: The maximum threshold used as a base for calculation of social contributions increases from 2000 BGN to 2200 BGN starting from 1 January 2013.Gambling activity will be taxed at 15% regardless whether it is online...
Read full article...Entities with sales income between BGN 300 thousand and BGN 3 million are required to make quarterly installments with the following schedule: Q1 – until 15th of April, Q2 – until 15th of July, Q3...
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