Property insuranceEvery company registered in Bulgaria is obliged to prepare and to publish an Annual Financial Report according to the Bulgarian Act for the Commercial Register and the Accountancy Act.
For all companies that have been registered after the start of the Commercial Register in January 2008 the deadline to accomplish this is 30 June every year.
For the companies that have been registered before January 2008 the term is not later than 3 months after the date of their re-registration. The companies that have been re-registered must publish their annual financial reports for 2007, 2008 and 2009. After this they have the same obligations as the companies registered after January 2008 i.e. to prepare and publish their annual financial report not later than 30 June every year.
If you fail to do this in time your company will be fined by the authorities with a fine up to 3000 BGN. The second time when you miss to discharge your duties the fine will double!
According to the Bulgarian Accountancy Act the short variant of the Annual Financial Report (most of the companies use this variant) consists of four elements:
- Accountancy balance
- Report for the incomes and expenses
- Report for the cash flows
- Report for the company capital
In addition to this you must prepare and publish into the Commercial Register a protocol for the acceptance of the Annual Financial Report by the General meeting of the company, a Declaration under art. 13 item 4 of the Bulgarian Commercial Register Act and to fill in an application form after the pattern of the Commercial Register.
If you have your Annual Financial Report already done and you need to publish it into the Commercial Register, contact us! We will do this for you for just £50 including the government fee!
If you haven’t prepared yet your Annual Financial Report our accountants will be happy to assist you. Please, fill the form below and we will contact you shortly to discuss personally all details. Our fee for the preparation of your annual financial report is just £30 if your company doesn’t have any commercial activity.
We realize how difficult could be to have a company in a foreign country and to take good care of it not knowing the local laws, rules and terms, which are changing probably too often. We know how difficult is to find a proper solicitor, accountant, architect, translator or insurance company, sometimes all at the same time. We have already been through it...
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