Accountancy Bulgaria: your trusted tax advisor in Bulgaria

Why is it so important to count on the support of a tax advisor in Bulgaria if considering opening a company in this country, or even if you have an established business already?

There are many reasons we will go through in detail, however, it is vital to mention that when choosing a tax advisor Bulgaria, your best bet is Accountancy Bulgaria. Not only does the man behind this accounting company have over 30 years of experience, but they also provide personalized solutions that are focused on promoting the growth of your company and helping new and not-so-new companies succeed and increase their profits in Bulgaria.

Now let’s go deep into tax advisor definition and all the reasons why you should hire one for your Bulgarian business.

What is a tax advisor?

A tax advisor is a person with deep knowledge of the tax system. It is someone who can be considered a financial expert in the field of tax law and tax accounting.

And this is an accurate description of Herman Van Der Mosen, the founder of Accountancy Bulgaria, whose expertise includes, among many other areas, tax advisory.

Someone looking into the pros and cons of company registration in Bulgaria, or someone who is already in the process of registering a Ltd in Bulgaria, must know that Accountancy Bulgaria offers services that go from bookkeeping to company advisor, tax advisor, and consultancy. 

For foreign businesses to take advantage of the possibilities Bulgaria has to offer, they need tailored solutions, and Accountancy Bulgaria, with their experience as tax advisors, have strategies designed especially for their needs. In the end, it is all about businesses achieving success.

Read also: Tax agent in Bulgaria: why you do need one before doing business in the country

What you need to know about taxes in Bulgaria

Bulgaria has been a protagonist in conversations regarding financial benefits, lower taxes, and how to maximize profits for companies. For those interested in simplifying their taxes through a system that has an emphasis on its simplicity, a lack of complicated tax rules, and controversial loopholes. 

Bulgaria, as any tax advisor will tell you, has a corporate income tax of 10%, and this is a flat rate. 

How does the Bulgarian tax system work?

The tax system in Bulgaria is formed of direct and indirect taxes. The agency in charge of collecting taxes is called the National Revenue Agency.

As direct taxes, we include personal income tax, corporate tax, and withholding taxes. 

When it comes to indirect taxes, we find Value Added Tax (VAT) and excise taxes. 

The tax rate for Bulgarians regardless of their income level, where they live, or what activity they perform is a flat rate of 10%. This is also true for Bulgarian-based companies. 

Company registration in Bulgaria

When it comes to company registration in Bulgaria, there is a lot of information available. The tax system, as your tax advisor Bulgaria will tell you, is one of the main reasons that attracts foreign companies to come settle in this country. And why is that? Here are the benefits of opening a company in Bulgaria:

·       A flat rate of 10% taxes on corporate profit.

·       Bulgaria is part of the European Union, making banking and legal procedures a lot easier.

·       As part of the EU, companies in Bulgaria are also eligible for incentives and other legislations that apply to other European countries and this can be a great motivation for companies interested in entering the European Market.

·       Incentives from the government that promote the settling of foreign companies in the country. Especially for companies in certain business activities or creating labor.

·       Corporation registration procedures are rather straightforward.

As you can see, there are many benefits to company registration in this country, and with the help of your Bulgarian tax advisor offering you the tools necessary for success, the potential is huge.

Read also: Certified public accountant VS normal accountant in Bulgaria: how to choose one

Conclusion

Choosing the right tax advisory in Bulgaria is a must to achieve the success you’re looking for when opening a company in this country.

And the right company is Accountancy Bulgaria. With years of expertise and a deep knowledge of the tax law in Bulgaria, offering tailored solutions and excellent customer service, it is without a doubt, the best ally for your company.