Taxation in Bulgaria

Taxation in Bulgaria

Bulgarian Corporation Tax rates are attractive for the foreigners. In the country the income of any person or legal entity is subject to a income tax rate of 10 %.If the person meet the criteria of a permanent resident of the country, the tax will be calculated on the base of his income earned in Bulgaria and abroad.

A foreign resident should pay the due tax only about his income, earned in Bulgaria. A Bulgarian resident is considered any person, who stay in Bulgaria at least 183 days in the year, and also the individual has a property in Bulgaria, used as main residence. The employer should deduct the tax payable each month from the salary of employee.As per the Corporate Income Tax Act, all companies, developing business in the country shall pay a anual corporate income tax at a rate of 10 %. A special tax rate is applicable for shipping companies and to companies involved in gambling.

The tax year in Bulgaria ends on December 31. Any trade company should fill an...
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