Do I owe other taxes if I am on a patent?
2024-01-11 11:37:17
Do I owe other taxes if I am on a patent?
Question:
Hello!
when I am on a patent, on a minimum wage and I have BGN 30,000 income from the patent activity, do I have to pay additional tax in addition to the patent?
Thanks in advance!
Answer:
Hello,
When paying for a patent, you do not owe additional taxes, but you do owe insurance contributions.
If we assume that you worked for a whole year, then you paid insurance on an annual basis calculated on - 12 months * BGN 780.00 or on the sum of 9360.00. i.e. from the amount of your income - 30,000, we subtract the amount on which you paid insurance - 9,360.00 and for the difference of BGN 20,640.00 you will owe 27.8% insurance (5,737.92 BGN).
We hope we have been helpful!
Greetings!
