Updated: 24 February 2020
The National Assembly adopted the State of Emergency Measures and Actions Act on 23rd of March 2020. The State Gazette promulgated the new Act on the following day. The law introduces changes to tax and accounting laws.
Below we have outlined the main extended terms.
1. Corporate tax
✅ 3oth of June – the deadline for submission of the annual financial tax returns and payment of the corporate tax;
✅ 14th of April – The deadline for submission of a declaration for determining monthly or quarterly advance installments for the months 01.2020 to 06.2020, respectively for the first and second quarters of 2020, by the liable companies. In that declaration, the companies shall indicate their estimated tax profit for 2020 and the corresponding advance installments
2. Local taxes and fees
✅ 30th of June – the term for payment of real estate/vehicle tax for the whole year with a discount of 5 %.
3. Personal income taxes and annual tax return
The amendments refer to the individuals, who carry on business activities as traders, the sole proprietors and the individuals registered as farmers.
✅ 30th of June is the term for:
- Payment of the tax due on the expenditures;
- Sole traders: Submission of the annual tax return for 2019 and payment of the tax on the annual tax base due under the tax returns submitted.
✅ 31st of May – the term for annual tax returns submitted electronically and payment of the remaining tax with a discount of 5 %, but not more than BGN 500
The terms under the Individuals Incomes Taxes Act which has started to run, stop running till the cancellation of the state of emergency.