We are glad to introduce E&M Accounting Group’s Accounting Services that we provide in Sofia, Bulgaria, as well as throughout the European Union and beyond, combined with reliable consultations from professionals with over 10 years of experience.
Our accounting company offers services to all types of legal entities (from LLC, Ltd to Joint-Stock companies, etc.), a wide range of accounting and consulting services, as well as subscription packages for accounting services.
Our priorities are aimed at achieving long-term business relationships based on mutual trust and fairness, which favor the development of your business. Our personal approach to each individual client helps the Management to have a clearer idea of the state of their business and thus make their management decisions calmly.
This video below will give a basic idea of how the financial accounting process works for those of you who are interested:
You can find a full range of our accounting services here.
And here are some of the basic tax and accounting terms used in the accounting process:
|Monthly Accounting Services||Accounting services are necessary for every small and large organization to run smoothly and efficiently. Accounting is undoubtedly an important part of any business’s operations. Additionally, accounting services include tax preparation and consulting, as well as expense and income tracking. Accounting is concerned with keeping accurate financial records and implementing effective record keeping systems. Accounting is involved every time you document a transaction, submit taxes, or plan an expense. In our company, we offer the following groups of accounting services on a monthly basis: for companies NOT VAT registered, accounting services for VAT registered companies and “Gold Premium” packages.|
|VAT Registrations and Deregistrations|| – Mandatory registration upon reaching a taxable turnover of BGN 50 000 (from 2023 it will be BGN 100 000) |
– Registration by choice
– Special registration for services received and provided from and to the EU
– Special registration for the purchase of goods from the EU
– VAT number of a company registered in another EU member state
– Deregistration by choice or at the initiative of the revenue authorities.
|VAT Refund||– VAT refund in Bulgaria: in order to start a VAT refund procedure, the result of three consecutive periods must be a tax refund . However, even if this period is missed, there is a possibility of recovery at any time of the year. |
– VAT refund from EU member countries: here the procedure is a bit more specific, but if the company meets certain criteria, this is absolutely possible
|Dividend Taxes||Dividends taxes are essentially the same, but they differ in the sources of the funds, and here are some of them: |
– Income of Bulgarian citizens for dividends from a source abroad;
– Income of Bulgarian citizens from dividends in Bulgaria;
– Income of foreign citizens from a source in Bulgaria.
|Deadlines for submitting annual financial statements and tax returns for companies||Every company has an obligation to submit its financial statements to the National Statistical Institute, as well as its annual tax return, by June 30 of the year following the processing year. Companies that have no activity during the year have an obligation to submit a Declaration of no activity, unless one was submitted for the previous year, then they no longer have such an obligation until they start to carry out activity again.|
|Types of business owner insurance/ social contributions||Here as well are several different options, and below are the most commonly used of them: |
– Self-insured person with or without the right to sick leave;
– Self-employed person with self-employment;
– Management and control contract;
– Employment contract (if the company is with partners and not sole proprietorship).