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Taking advantage of tax relief for children Question: Hello! Hi, can you electronically submit a Child Tax Credit return for me on my behalf? Thanks in advance! Answer: Hello, You can use the tax relief for children in two ways: 1. Through your employer - he will have to submit the necessary information to the National Revenue Agency ...

Yacht business Question: Hello! I'm about to start a non-business. The idea is as follows: I, as the captain of a vessel, will organize a group from Bulgaria (6-10 people) to spend their vacation on a yacht in Greece. The payment scheme will be as follows: we rent a yacht for one week, which is, for example, 2000 euros for the whole week. My ...

Whose obligation is it to pay gross income tax? Question: Hello! I started a new job on September 1, 2023. From 01.11.2023 for a reason I don't understand, the accountant took me with Telk and withheld the DOD for the disabled. It was stated to me that since I was not withheld the required larger percentage of VAT, they will have to pay about ...

Registration of patent activity Question: Hello! I ran into a situation that I don't know how to resolve. A year ago, I created an Air-bnb profile and uploaded my short-stay accommodation (for the times when I am not using it). Unfortunately, I thought that this was quite enough and I did not categorize it or enter it in the relevant ...

Submitting a declaration for starting an activity Question: Hello! I have made a first expenditure from the initial capital, does this mean that I have started a business and I need to submit a declaration for SALT? What obligations arise for me after submitting this declaration and what are the deadlines? Thanks in ...

Does maternity stop when doing a side business? Question: Hello! I work in a pharmaceutical company, but I am currently on maternity leave - first year. On the side, for now non-professionally, I do knitting. I have researched how I can register as a tradesman, but I am not clear on the following: If I register as a journeyman and do not ...

Income threshold at which company registration is mandatory Question: Hello! I would like to start an online consulting business, but the initial monthly costs such as insurance and bookkeeping are not small. Could you describe what the possible options are for a sample activity? Is there a monthly limit on the amount that can be received in ...

Registration of a company with headquarters abroad Question: Hello! I want to open a document translation and legalization agency based in Belgium. What are the requirements? Do I need an address in Bulgaria or only in Belgium? Thanks in advance! Answer: Hello, If you want to open a translation agency in Belgium, you must register a ...

Turnover for VAT registration of an agricultural producer Question: Hello! I need information regarding the mandatory VAT registration upon reaching a taxable turnover of BGN 50,000. for 12 months. It is a registered farmer. Which amount is looked at: the total revenue generated or the amount after deducting 60% of operating costs? Thanks in ...

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 ...