International Corporate Services

Global Understanding | Regional Team | Expertise

CORPORATE

Accounting & Tax Compliance

Accounting services include:

 

  • The recordation transactions of the company (purchases/sales) according to Purchases Day Book and Sales Day Book

  • Maintaining a register of fixed assets and the calculation of depreciation in accordance with statutory requirements

  • Bookkeeping and related monthly activities

  • Maintaining a chart of accounts and reporting according to the legal requirements of the legislation

  • Keeping balances on accounts and calculation of financial results

  • Verifying audit information and tax information

  • Consulting during financial and tax audit

  • Preparation of reports for National Bank of Bulgaria

  • Preparation and sending monthly Value Added Tax sales and VAT returns calculation

  • Support the implementation of new accounting standards in accordance with IFRS or local GAAP

  • GAAP and IFRS transition support

  • Preparation of payment orders for further processing by banks

Tax calculation service

Corporate Tax Calculation

The Financial Reporting Package include: Preparation of the monthly trial balance and ledger reports; Creating of monthly management report including general and detailed ledgers, Statement of financial position, Statement of profit or loss and other comprehensive income, Statement of cash flows and Statement of Changes in Equity; Creating of monthly/quarterly/annual reporting packages based on IFRS or locally accepted accounting standards; Creating of the annual statutory financial statements, both separate and consolidated, based on IFRS or locally accepted accounting standards and submission to the Commercial Register; Creating of the annual Statistical Forms, on the basis of the annual financial statements.

Financial Reporting Packages of Statutory Financial Statements


Includes, Calculation of the annual tax in accordance with the legislation on tax and the filing of an annual tax return; Corporate tax prepayments, if applicable, and payment thereof; Tax Regulations Support; Tax and annual financial statements.

Payroll Services

Creating and setting up a payroll system in accordance with the Client’s remuneration system policy and entering mandatory employee information in accordance with Bulgarian legislation. Payroll Services include: Setting up a client payroll tax reporting system. Performing a monthly payroll calculation and make changes to the total wage amount, if any. Preparation a table of data on wages, including taxes and contributions. Preparation of a declaration to the Bank on social insurance and medical insurance contributions related to wages. Preparation a monthly payroll for each employee. Preparation and submit monthly declaration reports to the National Revenue Agency.

Tax Advisor

Tax Advisory services include the following:

 

  • Advice on all aspects of local tax law

  • Providing tax planning assistance

  • Setting tax returns

  • Implementation of financial statements in the enterprise

  • Tax compliance

  • Management of risks

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