Filing tax returns for individuals and legal entities

Tax returns are among the most important documents submitted to government institutions. They represent the entire result of your continuous hard work throughout the year.

We will provide you with advice and guidance based on our experience, so we can go through this period smoothly together.

Our service in detail

  • Preparation and submission of VAT ledgers and declaration One of the key responsibilities for companies registered for VAT is the accurate preparation and submission of VAT ledgers and declarations. As accountants, it is our duty to ensure the complete and precise recording of the company’s purchase and sales documentation. This process is at the core of effective financial management. All information is carefully reviewed by the client, and we ensure that the VAT declaration is prepared and delivered no later than the 10th of each month. This timeline allows sufficient time for the client to examine and approve the declaration. It also ensures there is enough time to process and record any payments or refunds to or from the client efficiently.
  • Preparation and submission of Declarations 1 and 6 Preparation and submission of Declarations 1 and 6 – Managing employee taxes and social security contributions begins with gathering accurate information on worked hours, leave, and sick days. Once this data is reviewed and verified, it is entered into our payroll system, and we proceed with the preparation of Declarations 1 and 6. We offer clients convenient options for settling their obligations, including direct upload of payment files to their bank, as well as providing payment orders in both paper and electronic formats. Clients are given a 7-day window to review and approve the information and ensure timely payment of all amounts due to the authorities.
  • Preparation and submission of employment contract notifications – This process starts with collecting the necessary documents from new employees. After thorough verification, we prepare the employment contracts, official orders, and the notification to the National Revenue Agency (NRA) to register the employment contract. We provide the client with all the essential documents required for onboarding a new employee under a labour contract and ensure the timely submission of the notification to the NRA.
  • Preparation of an annual tax return for legal entities – This tax return provides a comprehensive summary of all the client’s transactions and financial position over the course of the year. We have extensive expertise in handling tax adjustments, related-party transactions, entertainment expenses, advance payments, and provisions, and can guide you in accurately reflecting these items. A thorough understanding of the client’s business is crucial for preparing an accurate tax return. When we prepare the return, the client is fully informed about every figure and the underlying transaction. Transparency and clarity are our top priorities.
  • Annual Tax Return Preparation for Individuals – Preparing and filing individual tax returns requires both expertise and experience — something we are well-equipped to provide. If you are a sole proprietor, a freelancer, or have earned income from rent or service fees, you are required to declare it under Article 50 of the Personal Income Tax Act. Many individuals are unaware of the tax reliefs available to them, as well as their legal obligation to submit a declaration — we’re here to help you navigate both.
  • Other Declarations and Forms under the Corporate Income Tax Act, Personal Income Tax Act, Labour Code, and Social Security Code – We stay up to date with all filing deadlines and legal obligations, so you don’t have to. As our client, you’ll receive timely notifications about what needs to be submitted and when. This ensures you stay compliant, avoid penalties, and have everything prepared easily and accurately.

Deadline for submitting the annual tax return for individuals

The deadline for submitting tax returns for individuals who are not sole proprietors is April 30th of the year following the reporting year.

For sole proprietors, the deadline is June 30th of the year following the reporting year. There are specific requirements for sole proprietors regarding the information that must be submitted by April 30th and additional information by June 30th. For more details, please contact us.

Deadline for submitting an annual tax return for legal entities

The deadline for filing annual tax returns for legal entities is June 30th of the year following the year of filing.

Frequently Asked Questions

My company had no activity during the year – do I still need to file an annual tax return, annual statistical report, and financial statement?

No, you do not need to submit the full set of declarations and reports. You only need to file a declaration of inactivity for your company with the Registry Agency. If you have any questions or would like to discuss the declaration process for your company’s activity, please don’t hesitate to contact us..

I have submitted an annual tax declaration, but I made a technical error. Can I correct it?

Yes, this is now possible. The National Revenue Agency allows all individuals and legal entities to correct their returns by September 30 of the same year the return was filed.

Can I file my tax return on paper?

As of the beginning of 2019, all tax returns for legal entities must be submitted electronically. Individuals can still submit on paper, but we recommend doing it electronically. This is very easy when issuing a Personal Identification Code (PIC).

When is the deadline for paying the tax due on my annual tax return?

For individuals, the deadline for submission and payment is April 30th of the year following the year being declared. For legal entities, the deadline for submission and payment is June 30th of the year following the year being declared.

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Client recommendations

I fully trust the advice from TSG Accounting and know I can always rely on them. I’m very satisfied! Whenever I have questions, I receive prompt and helpful responses. I’m really glad they’re here 🙂

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"Exceptionally professional attitude, communication is easy, and everything happens quickly and accurately. Not only good accountants in Sofia, but also good people."

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