EmGroup Accounting



Accounting Services

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.

Accounting Services: Basic Terms

And here are some of the basic tax and accounting terms used in the accounting process:

Monthly Accounting ServicesAccounting 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 TaxesDividends 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 companiesEvery 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 contributionsHere 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).

Here are some of the most frequently asked questions (FAQ) related to the accounting services of a company:

What services exactly do you offer?

E&M Accounting Group offers its clients a full range of different types of accounting services, we have no qualms about assisting small and medium businesses as well as very large companies. You can view all the services we offer here.

What is the price for monthly accounting service?

The prices we offer depend entirely on many factors, such as:

  • whether your company has VAT registration;
  • what type of transactions it will carry out;
  • whether the company’s activities will be carried out on the territory of the country or outside it;
  • how many employees there are in the company;
  • does the company use alternative payment systems for the transactions of its activity (Revolut, PayPal, Paysera and others);
  • how much would be the document turnover;
You can always take a look at our price packages, which are indicative and will introduce you to the possibilities, and you can also contact us and we will gladly send you an individual offer fully tailored to your company here.

Why do I need an accountant, can’t I take care of my own for the business?

If you have the necessary knowledge, there is no obstacle to managing your company’s accounting. However, there are daily, monthly and annual accounting commitments for a company, as well as many legal deadlines that must be met so that there is no financial damage to the company. It is also necessary to constantly monitor the latest developments in labor law, as well as accounting and tax legislation and many other things that must be taken into account on a daily basis, so it is best for the owner of a company, as well as his partners, to confide their business in the hands of experienced professionals to undertake these commitments for you and diligently ensure that the entire process runs smoothly and without any issues.

Can I use a one-time service and not be bound by a contract?

Of course, we have both- subscription packages for monthly service and one-time consultations on various cases. Please do not hesitate to ask us about anything and we will walk you through the various options.

Latest news

vat registration of foreign companies
VAT registration and OSS mode
VAT registration of foreign companies in bulgaria and OSS mode Changes after 01.07.2021 After 01.07.2021, the European Union made a serious reform of the VAT rules. The changes will affect all those who sell goods and services in the European Union to non-taxable persons. All individuals, as well as companies that are not registered for […] See more
tax legislation
What are the changes in the Tax Legislation as of 18.02.2022 Published in the State Gazette
Tax legislation – VAT For special types of baby food, a reduced VAT rate of 9 % shall apply. The reduction shall also apply to foods with specialized milk formulae and dietary foods which are for special medical purposes for infants under CN codes 2106 90 92 and 2106 90 98 under tax legislation. N.B. […] See more
KPMG tax
Summary of the published tax changes in CITA in force from March 2022
Tax treatment of leaseback sales contracts classified as operating in cases where the international accounting standards (IAS) Changes relating to the transposition into national law of rules against European Union tax avoidance practices Tax rate of tax on expenditure Changes related to the tax treatment of food vouchers In this edition of Tax News we […] See more