Advance corporate tax. Features

Advance corporate tax. Features

 

Question:

Hello,

I have the following question about advance corporate tax.

Net sales revenue in the previous year 2016 is BGN 10000, ie. do not exceed BGN 300,000, and we did not make any prepayments in the first and second quarters of 2017.

EOOD, it ended in 2016 at a loss.

In the third quarter, net revenues are around BGN 200,000 and are expected to reach BGN 300,000 by the end of 2017.

Should advance payments be made for the third quarter or the corporation tax with the drafting of the GD for 2017 and the entire corporate tax due in 2018 should be paid.

Thanks for your time!

 

Answer:

Hello,

According to art. 83, para 2, item 1 of CITA, your company should not make advance payments for corporation tax, since in the previous year the revenues from the activity did not exceed 300 000 BGN.

However, you can declare and make prepayments for corporate tax (if you want to "help" with the payment of the final income tax), but in any case you will not be charged any interest if you have not "hit" the amount of the advance payments the regulation under Article 89 of CITA will not apply to your company).

We hope we have been useful.

Greetings.