EOOD's taxes

EOOD's taxes

 

Question:

Hello, I would like to ask you what kind of taxes I owe as a retailer, in particular a food and beverage establishment. What are the legal requirements and what taxes are paid?

Thanks!

 

Answer:

Hello,

10% is the corporate tax / profit tax / on the company's annual profit. The tax payment deadline is 31.03 of the following calendar year. There are times when this profit tax must be paid in advance during the current year:

  - Monthly advance payments - are made by taxable persons whose net sales revenue for the previous year exceeded BGN 3,000,000.

- Quarterly advance payments - made by taxpayers who are not obliged to make monthly advance payments. In particular, these are persons whose net sales revenues for the previous year are in the range of BGN 300,000.01 to BGN 3,000,000 inclusive.

If you wish to distribute the profits / dividends / of the sole proprietorship company, a 5% dividend tax is payable, ie your tax burden becomes 15%. The dividend tax is paid by the end of the month following the quarter of the dividend accrual. That is, the due date for the payment of the tax due is bound to the date of the decision to distribute the dividend.

We hope we have been helpful.

Greetings!