Annual declaration of an individual with TELK

Annual declaration of an individual with TELK

Question:
Hello!
I have been doing online sales through Speedy and Econt for a year. I make souvenirs. I have TELK 80%. I don't have a company. Will submitting the tax return to the NRA be enough or do I need to do something more? What about taxes? I also have a minor child with TELC? What reliefs are available? Our annual income is about BGN 20,000.
Thanks in advance!

Answer:
Hello,
It is not a problem to declare your income by submitting an annual tax return for personal income taxes by 30.04.2025. You can also use a tax relief in the amount of BGN 7,920.00 for having a TELK over 50 %, as well as BGN 12,000 for having a minor child with TELC. If the income from online sales is around BGN 20,000 and you have no other income to declare (for example from an employment contract), you will owe minimal tax or no tax at all. What you will owe are insurance contributions - 27.8% of the amount of the declared income (unless you are a pensioner with TELK, because then you will only owe health insurance - 8%).
We hope we have been helpful!
Greetings!