Own blog as a hobby

Own blog as a hobby

Question:
Hello!

I work on a contract, but I want to start my blog as a hobby. For now, I don't think it's a source of income, but if an opportunity arises (from ads and Amazon) I might take advantage. I expect the income to be minimal enough to cover the expenses.

Since I don't plan to leave my main job, can I just declare the income and pay 15% profit tax? If the services require VAT registration will this affect my permanent contract?

I don't want to register a company or change profession, since the idea is not a business, but I don't want to get fines for the activity either.

Thanks in advance!

 

Answer:

Hello,

Currently, it is not a problem to declare your income as an individual and pay the corresponding tax without having to register a company. Although by law you must be a registered trader if you are trading. To date, the National Revenue Agency allows natural persons to declare income from commercial activity without imposing any fines for lack of registration as a trader.

Also, as you have already figured out, receiving income from advertising can lead to VAT registration. That is, if the income you receive is from non-Bulgarian companies, you will have to register for VAT under a slightly more specific regime (Article 97a of the VAT Law). This mode is registration-based and you will not owe VAT on your realized income. If you receive services from companies in the European Union, however, you will have to declare and pay VAT on the value of the service received.

In any case, neither declaring income as an individual nor registering for VAT as an individual will have any impact on your employment relationship.

We hope we have been helpful!

Greetings!