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 Changes in 2018

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oddball
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PostSubject: Changes in 2018   Sat Dec 16, 2017 10:33 pm

Google translation so a little jumbled But is this good news for people with none active companies

photo From January 1, 2018, citizens and businesses will not be shuffled for tax returns Photo: Gettyimages.com inShare    From 1 January 2018, citizens and businesses will no longer be shuffling to inquire about the presence or absence of debts to the treasury. So far, they have been asked for state agencies to provide them with an administrative service. The abolition of the obligation is provided in a package of legislative changes to reduce bureaucracy prepared by the finance ministry. The aim is to reduce the number of required documents from the administration and simplify the procedures for providing services to citizens and business, Sega writes. The submission of a paper certificate for the presence or absence of obligations must be completely waived. Not only the National Revenue Agency (NRA), but also the customs and municipalities will provide this information electronically, and all the departments that require it are obliged to look for it on an official basis. This implies a change in the Tax Insurance and Procedure Code. In the transitional and concluding provisions of the draft, amendments are made to 14 other laws. The French prime minister: Our country is dancing on a volcano of debts French prime minister: Our country is dancing on a volley of debts French Prime Minister Eduard Philip today announced his plans to curb public spending and cut the "intolerable" public debt ... Read more The facilitation will also apply to car owners. They will no longer be required to submit a notice of payment of a levy at the time of the annual inspection of the vehicle's performance. The technical checkpoints will make the check electronically in the information systems of the municipal tax offices. This will increase control over the review, the Finance Ministry said. The criminal record will be dropped in paper form for traders who apply to the Ministry of Finance for licenses and permits. These are the exchange offices and vouchers. The criminal record will be provided to the Ministry of Finance on an official basis by the respective courts. On a business trip, the Finance Ministry and the Customs Agency will also seek information whether companies applying for a tax warehouse management license or permits to trade in excise goods are in bankruptcy or liquidation proceedings or have any serious breaches of tax law. WikiLeaks publishes next series of CIA secret documents WikiLeaks publishes next series of CIA secret documents WikiLeaks publishes next series of CIA secret documents related to video streaming. The tool is called "Couch Potato" .... Read more Business facility is the opportunity for every company to register voluntarily for VAT upon its initial registration with the Registry Agency. This registration will take place under a simplified procedure and the companies will avoid the visit of two administrations. The service will also be provided electronically, with the requirement for a notarized power of attorney when the application for VAT registration is filed by a lawyer. The proposed changes also provide for the obligation for companies to make an inventory of available assets under VAT registration. According to the changes, the tax authorities will have access to the documents and information about the actual owners and the client's inspection under the Law on Measures against Money Laundering. Companies with no activity for the respective tax year will not submit financial statements to the Commercial Register, provide for amendments to the Accountancy Act. They are exempt from the obligation to file an annual tax return under the Corporate Income Tax Act. According to the National Statistical Institute in 2016, 188,751 enterprises have submitted a declaration that they are not active and have not been active. Under the current legislation, however, they are obliged to publish a balance sheet in the Commercial Register, paying a fee of BGN 20 if the documents are submitted electronically and BGN 40 for paper submission. For each pair for the term teachers fill in two-digit number documents For each pair for the term teachers fill in two-digit number of documents The Ministry of Education requires 10 documents by the teachers at each pair at the end of the term they write to the students with ...

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PostSubject: Re: Changes in 2018   Tue Dec 26, 2017 11:44 am

just mailed my accountant to ask re the above
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PostSubject: Re: Changes in 2018   Wed Dec 27, 2017 7:15 am

There was information about this in Nov, I questioned it and have had the below reply, should it help?
To save complications !! I have opted and completed a POA for my legal office to continue submitting on my behalf.

Regarding the Vehicle section, I believe that this was mentioned to be implemented a year or so back, in as much that you did not have to produce proof of Local tax payment as the garages should be able to link into the online register and check?? I still have to produce a receipt of payment?

Reply re New Tax submission

According to the last amendment of the accountancy legislation starting from 1st of January 2018 the only way for submitting of tax returns is to submit it online /via a special program of NRA/.

It means that now managers of Bulgarian companies will have either to obtain electronic signatures and to submit the Tax Returns themselves or to authorise accountants or solicitors who also have electronic signatures.

That is why for submitting of the tax returns for 2017 we will ask managers of companies to provide a special POA in order we are able to submit Tax Returns or to authorise our accountant.

in order to fill in the form of Tax returns, we will need Bulgarian TIN of the manager and of the owner of the company.

Such TIN number can be:

- The PIN number – for Bulgarian citizens and foreigners with temporary/permanent residency permit for Bulgaria

- The BULSTAT number – for foreigners who have real estates in Bulgaria /as the estate should be registered on the personal name of the foreigner/

- Or a special tax identification number issued by the NRA.

If You have a residency permit you have PIN /and TIN/

We will notify NRA and will submit the Tax Returns of your company which is why when we will start to prepare the accountancy reports I will send you a POA

Hope it clears things a bit,? if in doubt seek advice is my suggestion....

Bill
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PostSubject: Re: Changes in 2018   Wed Dec 27, 2017 8:03 am

Thanks Bill

There was me thinking they will abolish tax returns. Dreaming eh!

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PostSubject: Re: Changes in 2018   Wed Dec 27, 2017 8:14 am

Afraid you were two things in life you cannot avoid, Death and the Taxman
Not abolishing but changing the way they are submitted, with the other changes pending it appears they are trying to get everything online??
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PostSubject: Re: Changes in 2018   Wed Dec 27, 2017 8:44 am

[You must be registered and logged in to see this link.] wrote:
Afraid you were    two things in life you cannot avoid, Death and the Taxman
Not abolishing but changing the way they are submitted, with the other changes pending it appears they are trying to get everything online??

Actually this online submitting stuff is quite good. Have done a few things and been straight forward once you are set up.  So maybe the bg none tax returns will be just as easy.   I want to get rid of the company but seems this is not a good idea as yet.

My friend just sold his house in BG and because he had closed the company account some years ago as he was not using it and they were charging him 8lev a month to keep it open so he closed it. The money from the sale cannot be transferred to his personal account so he has had to open another company account all time consuming. He is waiting for the transaction now but they also told him he would have to pay tax on the sale ie 20% profit of the sale. And of course to draw/transfer the funds out of the account he will have to pay more charges. I wonder if he will end up with anything.  It really is all about money here but we don't know these things until we need to do something.

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