Monthly and annual reports and reports of a company without activity

Monthly and annual reports and reports of a company without activity

 

Question:
Hello!

I inherited a company two years ago that does no business and has no employees to keep. My question is, given that I will not close the company, what monthly or annual reports / documents / reports should I submit to the NRA and how does this happen?

Thanks in advance!

 

Answer:

Hello,

After the company does not carry out activity, after the year has expired it is submitted to the NSI (National Statistical Institute) and to TR (Commercial Register) a declaration according to a sample that for the respective year the Company has not carried out any activity. Once such a declaration has been submitted for a given year, your obligation to submit these declarations in the following years is waived (as long as the Company continues to be inactive, of course).

If your company is registered for VAT, you will also have to submit monthly VAT returns to the NRA. Once you have no activity, these statements will be zero, but your obligation to submit them remains. In order for this obligation of yours to be abolished, it is necessary to deregister the company from VAT. Depending on when the company has been out of business and also what the activity was and what the turnover was before, the deregistration procedure will take place in a different way. If you have at least 12 months without activity, then the procedure will be extremely easy, as you will not have the circumstances to declare.

If your company is not registered for VAT - then you have no obligation to submit any monthly reports / documents to the institutions in Bulgaria.

We hope we have been helpful to you.

Greetings!