Tax Returns

Every local organization and individual is obliged to declare their revenue (income) by submitting an annual tax return alongside the respective applications and attachments.

Sisizar provides full services regarding the preparation and submission of the tax returns of companies, Bulgarian, and Non-Bulgarian individuals, who own any property in Bulgaria. We cover the whole service from collecting the required documentation to submiting it before the respective authorities.

Company tax return

According to the mandatory requirement of Bulgarian Corporate Income Taxation Act (CITA), each registered legal entity in the country is obliged to prepare and submit its annual tax return and financial report for the activities of the previous year till 31st of March of the following year. We at Sisizar provide accounting services regarding the aforesaid obligation to a local and multinational companies, company branches, partnerships and companies with no activities, according to the applied accounting standards and tax laws, covering the following:

• Data collection and processing
• Annual closure of accounts
• Preparation and submission of annual tax return
• Preparation of annual financial report
• Preparation and submission of annual statistical report

Services related to the annual closure are included in the monthly fee of our subscription clients.

Tax return for foreign individuals owing property in Bulgaria

The foreign citizens possessing property through a legal entity in Bulgaria are subject of several tax and legal obligations as submission of annual tax return, declaring property and paying taxes. The deadline for the property tax payment (31st of March) is the same as the one for the annual tax return submission.

Sisizar has a particular service package for the above mentioned entities, covering the following aspects:

• Collection and processing of documentation
• Annual closure of accounts
• Calculation and preparation of payments for taxes
• Preparation and submission of annual tax return and complete financial report according to the Corporate Income Taxation Act in Bulgaria
• Preparation and submission of notification for declaring property in the local authorities

Tax return for local individuals

The natural persons in Bulgaria are obliged to notify the local tax authorities by the 30th of April of the following year for their incomes during the previous year. Subject of the aforesaid obligation are the sole traders and individuals who has incomes from rent or other provision of rights or property to be used against consideration, transfer of rights or property, other economic activities and other income sources different from the employment agreements.

No matter if you are a sole trader or an individual with some of the above described incomes, Sisizar can assist you with the following services:

• Collection of documentation for the received incomes
• Calculation and preparation of payments for taxes
• Preparation of annual tax return and submission in the local tax authorities