Who enter into its field?
Rate. Expense reduction for tax purpose. Terms of payment. Tax declaration and payment.
Corporate income tax
Who enter into its field?
companies established under Bulgarian Law;
permanent establishments of foreign entities.
Rate:
10% on the taxable profit of the company.
Expense reduction for tax purpose:
not reliable documents;
non-business expenses;
expenses, on behalf of third parties;
costs of fines and interest due to legislation violation;
other expenses, explicitly in CITA.
Terms of payment:
31 March of the following year.
Monthly or quarterly advance payments are due through the year.
Tax declaration and payment:
Each local or foreign entity with place of activity on the territory of Republic of Bulgaria has to submit annual tax declaration in accordance with art. 92 of Corporate Income Tax Act, by 31st March of the following year. The tax has to be paid by the same deadline.
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