Create a company in Bulgaria

Accountancy Services – Create a company in Bulgaria

Bookkeeping and Accounting

• Design the company’s accounting policy, valuation methods and ledger accounts

• Maintain the sales and purchase ledger on behalf of the company

• Monthly keeping of accounting registers according to the International Financial Reporting Standards and the National Accounting Standards

• Daily accounting check-up

• Monitoring and control of cash flows

• We store invoices securely and keep them for at least the mandatory period

Fixed assets

• Maintain asset register (maintaining individual records per item)

• Ensure that items are capitalised in line with local law

• Ensure that depreciation is applied correctly

VAT

• Compulsory VAT registration when creating a company in Bulgaria

• Optional VAT registration

• Preparation and Submission of VAT returns to the relevant tax offices on monthly basis

• VAT refunds

Payroll Services

• Provide payroll accounting for the Company’s employees and maintain individual payroll data

• Provide Payroll accounting for any temporary employees of the Company

• Prepare reports to the local authorities as required by local laws

• Act as the point of contact with authorities and represent the Company

• Prepare data and statistical reports according to local law

• Produce payroll calculations for input into the Company’s accounts

• Calculate the tax and social and health insurances to be paid

Maintenance of employee records

• We maintain full records of all employees on the payroll Partners

• Maintain records of all temporary employees

• Ensure that records are kept up to date for all employees joining and leaving the payroll

• Ensure that records are stored securely and kept for at least the mandatory period

• Prepare documents for joining and leaving employees

• Summarise work hours on the basis of maintaining an attendance register

• Record holidays and permissions for holidays

• Record sickness absences

• Ensure that company is kept up to date with changes to employment laws

• Prepare data reports to local authorities on sick leave, pension contributions etc.

Labour administration

• Prepare documents for joining and leaving employees

• Summarise work hours on the basis of maintaining an attendance register

• Record holidays and permissions for holidays

• Record sickness absences

• Ensure that company is kept up to date with changes to employment laws

• Prepare data reports to local authorities on sick leave, pension contributions etc.

Banking

• Manage bank transactions (and associated statement reconciliations)

• Manage petty cash book (and associated reconciliations)

• Monitoring, preparation and submission of payment documents for the funds of social and health insurance, income tax, other taxes and charges and company expenses

• Act as second signatory on all bank transactions

International Management Reporting Services

• Preparation of required financial management reports on monthly, weekly or daily bases for Headquarters and Owners in relation to the financial status of the Company

• Ensure that accruals and prepayments are accounted correctly

• Ensure that the management reports are sent on time to the central management

• Prepare a comparison of the Company’s actual performance compared to Annual Plan

• Production of ad hoc reports when required

Statutory Reporting

• Ensure that accounts are produced in accordance with IFRS and NAS

• Present all documents (with associated calculations and explanations) to auditors as and when required and produce audit papers

• Produce any statistical reports as required by local law when creating a company in Bulgaria

Annual Financial Reports

• Preparation and submission of the Official Annual financial reports, report forms and filling in of tax returns in accordance of with IFRS, NAS and Bulgarian tax legislation

• Consolidated reporting services

• Accounting reconciliation

Tax Filing

• Prepare and file all regular tax reports (VAT, Corporate tax, Personal income tax, Local tax and all other tax declaration as required by local law)

• File modifications to company set up with the local tax authorities as appropriate

• Ensure that Company is informed of all payable taxes and informed when there any changes to local law

• Represent the Company at all tax authorities, as and when requested by those authorities

• Preparation of the necessary tax statistical reports when creating a company in Bulgaria

• Preparation of all year end tax declarations

• Tax administration representation

Tax and financial

• We offer advice and assistance on personal tax issues (Bulgarian and foreign employees and managers)

• Advice and assistance in relation to corporate tax issues (profit tax)

• Advice and assistance in relation to VAT

• We offer advice and assistance in relation to local taxes and charges

• Assistance and advice in relation to international tax issues (avoidance of double taxation)

• Social and health insurance consultation when creating a company in Bulgaria

 

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