- Count on core accounting in Bulgaria for day-to-day bookkeeping, tax planning, payroll, yearly reports, and administrative assistance. Select experienced accountants who understand Bulgarian law, EU rules, and National Revenue Agency requirements.
- Maintain accurate, up-to-date bookkeeping daily to underpin timely decisions. Leverage the cloud and assign tasks to experienced bookkeepers to minimize mistakes.
- Build a tax strategy that complies with Bulgarian and EU regulations and maximizes eligible expenses. Plan regular sweeps to monitor legislative shifts and sidestep fines.
- Run payroll with accurate processing, social insurance, and tax compliance for all employees. Outsource payroll to make it more accurate, timely, and secure.
- Steer through rules with transparent records, prompt filings, and robust internal measures. Leverage management reports and internal audits to lower risk and drive data-backed decisions.
- Find industry specific knowledge for IT, real estate and e-commerce and ask upfront pricing. Request a custom package with a dedicated accountant to maximize efficiency and reduce overhead.
Accounting services in Bulgaria include bookkeeping, payroll, tax compliance, and audit assistance for domestic companies and international investors. Providers comply with Bulgarian GAAP or IFRS in accordance with the National Revenue Agency principles and EU VAT legislation. Standard VAT is 20% and 9% for some hotel services. Corporate income tax is 10% and dividend withholding is 5% in most cases. Monthly VAT returns, VIES statements for intra-EU trade, and annual financial statements are standard. Several companies operate in Bulgarian and English, quote flat rates, and assist with company formation. Non-EU businesses usually require a VAT representative. Digital invoicing tools are standard with e-archiving legislation. Usual engagements are for continuing compliance. The sections below describe step by step timelines and vendor selection.
Core Accounting Services in Bulgaria
Core keeps your books clean, your taxes correct, and your filings on time with comprehensive accounting services. Seasoned accountants who understand both Bulgarian tax laws and NRA rules mitigate risk, reduce expenses, and ensure compliance.
- Daily bookkeeping and ledgers
- Tax strategy, compliance, and filings
- Payroll and social contributions
- Annual financial statements and tax returns
- Admin support: company setup, VAT, and authority liaison
- Secure digital accounting with frequent backups
- Outsourcing for cost control and scale
1. Daily Bookkeeping
Bookkeepers note sales, purchases, bank moves, invoices, and costs daily. They match receipts to line items and maintain a pristine audit trail that enables rapid checks and cash flow snapshots.
Up-to-date records back monthly, quarterly, and annual reports both companies and freelancers need to prepare. For VAT-registered firms, quarterly reports frequently feed compliance checks and internal reviews.
Modern tools help reduce errors. Search for automated bank feeds, OCR for invoices, and hourly or daily backups to protect you from ransomware or device failure.
Experienced bookkeepers identify holes before they become penalties. They do VAT, payroll and social security reconciliation before the monthly NRA submissions.
2. Tax Strategy
A bespoke plan dovetails with Bulgarian tax laws and EU regulations, outlining deductible expenses, loss carry forwards, withholding, and VAT handling on cross-border sales. Experienced accountants timely prepare and file returns, such as monthly VAT declarations if applicable and annual tax returns showing income, expenses, and liabilities. They follow law updates, implement R&D or investment reliefs where applicable, and plan for permanent establishments and transfer pricing for foreign proprietors. With consistent oversight, they minimize the risk of fines, interest, and additional NRA attention.
3. Payroll Solutions
Payroll teams calculate gross to net, tax bands, and social insurance and health contributions filings. They file monthly declarations to the NRA and provide labor law-compliant payslips.
They provide monthly payroll reports, organize salary disbursements and manage expat cases, benefits and sick leave. Outsourcing trims administrative burden and minimizes mistakes that cause penalties.
4. Annual Reporting
Annual financial statements summarize performance for the fiscal year and must be filed.
Accountants prepare management and shareholder packs with KPIs and annotations.
They submit annual tax returns on time to prevent a fine and a dimension of reputational risk.
Core accounting services in Bulgaria
5. Admin Services
Teams manage company and VAT registration, EORI as required, and Registry Agency updates.
They handle form filing, banking setup, insurance, and legal checks.
Trustworthy admin keeps things running and filings on the calendar with weekly backups for peace of mind.
Navigating Bulgarian Regulations
Compliance is based on understanding how Bulgarian accounting and tax regulations operate on the ground, particularly for Bulgarian residents and businesses, and where they overlap with EU law. Most enterprises must maintain full books, file timely, and retain records sufficiently to meet audits and cross-border inspections.
EU Harmonization
Bulgarian accounting is in line with EU directives and the IFRS framework, ensuring that all public interest entities apply IFRS as adopted by the EU from 1 January 2017. Other companies follow the Accountancy Act 2015 and local GAAP with EU-aligned options. This arrangement is particularly beneficial for cross-border groups, as agreed terms, uniform recognition regulations, and similar disclosures minimize consolidation headaches and due diligence holdups. VAT rules mirror EU law, with standard VAT applying to domestic sales while intra-EU supplies require VIES listings. For small business owners and freelancers, distance sales may use OSS/IOSS. Intrastat reports track goods flows above set thresholds, necessitating accountants who are well-versed in Bulgarian tax laws and EU mechanics to handle VAT place of supply, chain transactions, and transfer pricing documentation that comply with group policies while satisfying local file requirements.
Recent Changes
These updates frequently focus on enhancing reporting rigor and improving digital controls. The Independent Financial Audit Act of 2016 increased auditor supervision for such entities to statutory audit. Record-keeping is strict: invoices and financial records must be stored for at least 10 years for tax audit purposes. Annual financial statements are due by June 30 for calendar-year companies and corporate income tax returns are due by June 30. Accounting documents have to be in Bulgarian and in BGN, even when groups report in a different currency.
VAT registration thresholds, payroll reporting formats and e‑submission tools shift from time to time. Keep up with NRA announcements, industry regulations and local levies so you don’t miss anything.
Common Pitfalls
Errors gravitate toward timing, language, and cross-border VAT.
- Late filings: Missing the June 30 statement and corporate tax deadlines triggers penalties and audit risk.
- Wrong language or currency: Not issuing or keeping records in Bulgarian and BGN violates the Accountancy Act.
- VAT mismatches: Failing VIES, OSS, or Intrastat consistency checks leads to NRA scrutiny and fines.
- Weak documentation: Poor transfer-pricing files, missing payroll records, or incomplete inventories break audit trails.
The NRA has very stringent regulations. Precise books, punctual filings, and a 10-year storage reduce exposure.
With professional accounting support to help navigate Bulgarian regulations, we map EU rules to local practice, align your group policies to Bulgarian law, and close gaps early.
Strategic Financial Guidance
Strategic financial guidance fits finance to goals, laws, and risk, ensuring compliance with Bulgarian tax laws and EU regulations. It backs decisions on investing, financing, and cost management while maintaining clean books, timely annual reports, and transparent statements to minimize penalties and engender confidence.
- Financial planning, budgeting, and forecasting with Bulgarian tax and labor rules in mind.
- Management reports with live cash flow, expense, and margin views.
- Internal audits focused on compliance, controls, and fraud risk
- Corporate finance assistance for capital raising, M&A, and bank relations.
- Ongoing regulatory updates, tax planning, and documentation best practices
Management Reports
- Monthly performance packs: P&L by product or site, gross margin bridges, variance to budget and forecast, and rolling 12-month trends for revenue, cost, and EBITDA.
- Cash flow dashboards: daily cash position, 30 to 90 day inflows and outflows, supplier aging, and tax payment calendars to plan VAT and corporate tax.
- KPI scorecards: sales per unit, cost per order, inventory turns, DSO/DPO, and productivity ratios benchmarked to sector data in Bulgaria and the wider EU.
- Board summaries: concise insights, risk flags, and scenario outcomes for planned hires, pricing, or new equipment.
Reports come in nice tables and charts with plain-language notes. Data is reconciled to the general ledger for audit accuracy and tax transparency.
Real-time feeds monitor card receipts, payroll, and supplier invoices, so teams identify cash gaps ahead of time. Proper documentation of expenses and contracts is ingrained to remain audit ready.
Action is propelled by strong weekly and monthly rhythms. Insights emphasize tax-base deductions, such as qualified expenses, depreciation options, and R&D incentives where relevant.
Internal Audits
A risk-based audit examines purchasing, sales, payroll, and inventory, tests controls, checks VAT, corporate tax, and social security compliance, and maps process gaps that increase cost or risk. It scrutinizes segregation of duties, approval flows, master data, and record-keeping, which is vital if tax authorities audit historic periods. Findings consist of quantified impact, root causes, and obvious fixes.
Follow-up plans, owners, and dates. This facilitates external audit preparedness and prevents recidivism.
Corporate Finance
Advice spans deal screening, diligence support, and integration plans for a business operations framework. Construct financial models for valuations, scenario testing, and covenant headroom while considering accountancy Bulgaria practices. Architect debt and equity to balance cost and flexibility, steering loan files, collateral, and bank conversations effectively. Benchmarking leverages local industry multiples and fees to ensure a capital mix that finances growth, retains liquidity, and hedges risk with paperwork intact for regulators.
Industry-Specific Accounting
Industry-specific accounting in Bulgaria, particularly in the realm of accountancy Bulgaria, translates into mapping regulations to how every industry makes, uses, and records. It requires an intimate understanding of local GAAP, EU-aligned standards, and IFRS for groups and public-interest entities. This effort minimizes risk and expense in verticals that have specialized needs, such as finance, healthcare, retail, technology, and biotech, while ensuring compliance with Bulgarian tax laws.
IT Sector
IT companies require comprehensive accounting services that fit SaaS, licensing, and multi-entity models. Revenue recognition is per contract terms and separate performance obligations and timing under IFRS or local GAAP, whether it’s a term license, consumption plan, or bundled service. Teams track R&D costs and expense or capitalize under transparent rules, linking that to grants, cost sharing, and transfer pricing. Cross-border work introduces VAT questions, permanent establishment risk, and treaty usage, making a professional accountant invaluable. Billing in multiple markets necessitates pristine audit trails. IP sits on the balance sheet only when it passes defined tests. The best setups tie billing, usage data, and general ledgers together, mapping deferred revenue and reconciling foreign currency, which reduces mistakes and assists with audits and due diligence.
Real Estate
Property deals demand rigid files for purchases, sales, and rentals in alignment with Bulgarian legislation. Logs include source documents, fair value information where applicable, and lease conditions. Teams monitor VAT on new constructions and specific land transactions, recover input VAT, and exempt output when mandated by regulations. Capital gains tax depends on deal form and holding period. Deductible costs include direct works, fees, and financing that meet tests. Asset versus share deals shift VAT, tax base, and later exit decisions, so early structuring counts. Funds and SPVs require distinct books, loan covenants, and cash waterfall reports.
Investors want clear packs: rent rolls, recovery statements, service charge reports, unit-level yields, and impairment notes. This backs up bank asks and IR requirements.
E-commerce
Online sellers want flows that integrate with carts, marketplaces, and payment gateways. Accounting spans order to cash, multi-currency, and cross-border VAT, including OSS and IOSS where relevant.
Inventory regulations manage stock at SKU level, landed cost, and write-downs. Returns and refunds modify revenue, VAT, and cost of sales with transparent, date-stamped connections.
Monthly books should reconcile each gateway, settle fees, and match shipments. We report unit margin, ad spend, and stock turns to help guide buys and prices.
Understanding Service Pricing
How we price accounting services in Bulgaria is based on scope, workload, and risk. Firms price based on how much work we perform each month, how complex the company is, and how often we have to file. VAT status, headcount, and cross-border links can slide a little bill into a bigger one.
Typical pricing structures used by firms in Bulgaria:
| Model | What it covers | Best for | Notes |
|---|---|---|---|
| Per document | Each primary document (invoice, credit note, bank slip) | Firms with steady, low volume | Price scales with monthly volume; cash receipts may not count as primary documents. |
| Monthly package | Fixed bundle (bookkeeping, monthly reports, VAT, payroll) | SMEs needing predictable spend | Cost-effective; scope caps apply. |
| Hourly/consulting | Advisory, setup, tax planning | One-off or complex tasks | Higher rate; pay for actual time. |
| Project-based | Audits, due diligence, EU project paperwork | Defined, time-bound tasks | Often quoted; fees are negotiable. |
What drives the price and why it matters:
- VAT registration: VAT-registered companies file monthly VAT returns, which raises workload and cost. A non-VAT micro retailer might require light monthly books. A VAT-registered e-shop sending out 300 invoices a month pays more.
- Volume and complexity: More primary documents per month mean more posting and checks. Cross-border deals, multiple warehouses, or mixed currencies add review time.
- Industry specifics: Construction (many subcontractors), transport (fuel and tolls), and agriculture (seasonal cycles) need tailored tracking, which can raise fees.
- Headcount: Payroll adds recurring tasks. Hiring, terminations, and benefits change monthly work.
- Extras and checks: Tax audits or labor inspections can trigger add-on work, often charged at €200 to €5,000 depending on depth and deadlines. EU project applications typically include project fees that can be negotiated.
Indicative prices to aid budgeting (typical ranges, per month unless noted):
| Service | Scope | Indicative price (EUR) |
|---|---|---|
| Bookkeeping—Micro, non-VAT (≤30 docs) | Basic books, statutory reports | €120–€220 |
| Bookkeeping—Small, VAT (≤100 docs) | Books, monthly VAT return | €250–€450 |
| Bookkeeping—Medium, VAT (≤300 docs) | Books, monthly VAT, management report | €500–€900 |
| Payroll (per employee) | Payslip, filings, declarations | €10–€20 |
| VAT return only (monthly) | Prep and filing | €60–€120 |
| Annual corporate tax return | CIT pack and filing | €200–€500 |
| Consulting (hourly) | Tax/IFRS/advice | €50–€120 |
| Audit/inspection support (project) | Tax or labor checks | €200–€5,000 |
| EU project paperwork (project) | Forms, budgets, support | Quote-based/negotiable |
Our Tailored Solutions
Designed for international teams in Bulgaria, our comprehensive accounting services fit your model, size, and stage of growth. We map your goals, vet your current setup, and sculpt a plan that is lean, clear, and easy to run day to day.
Personalized accounting by business model and industry
We craft workflows around how you sell, bill, and report, ensuring compliance with Bulgarian tax laws. A software startup needs revenue recognition rules and cost tracking by project, while a retailer requires cash control, stock checks in units and kilos, and daily sales reconciled from POS. A manufacturer requires cost of goods and BOM roll-ups. We begin with a comprehensive audit of your chart of accounts, approval processes, and tools that then identify gaps and solutions, including specialized accounting services for VAT treatment for domestic and EU sales, INTRASTAT where relevant, and local regulations under the Bulgarian Accounting Act. The aim is simple: cut waste, raise speed, and lower errors while keeping reports that management can act on.
Dedicated accountant and proactive account management
You have a single point of contact who understands your books, your deadlines, and your risks, especially when it comes to comprehensive accounting services. We schedule filings and payroll, conduct monthly check-ins, and identify problems before they become fines. For instance, if your EU distance sales approach a threshold, we alert you early and configure the appropriate VAT scheme that aligns with Bulgarian tax laws. If cash flow constricts, we recommend payment terms, dunning steps, and cost pulls.
Full scope: bookkeeping, payroll, tax, and financial guidance
We take care of daily postings, bank feeds, and reconciliations, as well as payroll with social and health insurance, and tax filing under the VAT Act and CIT Act. Our comprehensive accounting services ensure timely reporting to the National Revenue Agency and the National Social Security Institute. For planning, we construct budgets, unit economics, and runway perspectives, while also establishing audit-proof document trails to empower your business operations to scale to new sites or entities with no rework.
Bugarska.net’s standards in Bulgaria
We’re strict with quality checks, two-step reviews, and secure data flows, ensuring compliance with Bulgarian tax laws and IFRS where necessary. Our accounting company offers transparent pricing and comprehensive accounting services, providing clear answers and dependable books for your business operations.
Accounting Services in Bulgaria – Bugarska NET
If you are looking for reliable and affordable accounting services in Bulgaria, Bugarska NET offers complete financial management for both local and foreign companies. Our team of certified accountants and tax advisors provides full support in company bookkeeping, VAT registration, payroll, annual tax returns, and financial reporting – all in compliance with Bulgarian and EU regulations.
With years of experience working with international clients, we understand the needs of foreign entrepreneurs who operate in Bulgaria. Bugarska NET ensures transparent pricing, precise reporting, and timely submission of all documents to local institutions. Whether you run an EOOD, OOD, or freelance business, we provide tailored accounting solutions that help you save time and reduce costs.
📞 Phone / WhatsApp: +359 877 077 225
✉️ E-mail: support@bugarska.net
🌍 Website: www.bulgarian.llc
Professional accounting and legal support for your business success in Bulgaria.
Conclusion
Good books and transparent regulation make Bulgaria’s work feel less harsh. Its way appears smooth as the figures verify the statute and the scheme creates the mark. You receive reduced risk and increased peace of mind. Now that’s the real victory.
Everyday necessities remain uncomplicated with intelligent strides. Establish VAT timely, file every month, maintain pristine ledgers and pay personnel properly. Major motions keep with rigorous monitoring. Branch, bill in euro, stock track, and cash flow notes prepare. Quick case: a small e-shop cut late fees to zero after tight VAT work. A tech team cut close time by five days with clean cost tags and lean reports.
Need a hand with setup, filings, or a one-off fix? Contact us for a brief call and transparent pricing.
Frequently Asked Questions
What core accounting services do firms in Bulgaria provide?
Companies in Bulgaria typically offer comprehensive accounting services, including VAT, payroll, and management reports. They also manage supplier/client reconciliations and ensure compliance with Bulgarian tax laws and statutory submissions.
How do businesses stay compliant with Bulgarian regulations?
Compliance depends on proper records, timely VAT reporting and tax filings, and adherence to Bulgarian Accounting Standards or IFRS when applicable. Expert oversight from a professional accountant ensures you stay updated on NRA updates and EU directives, preventing fines and maintaining your legal entity.
Do Bulgarian companies use IFRS?
PIEs and listed companies apply IFRS, while most Bulgarian companies utilize Bulgarian National Accounting Standards, which align with EU rules or IFRS for SMEs when applicable. An experienced accountant can recommend the appropriate accounting framework based on your business size, structure, and industry.
What are the key VAT rules in Bulgaria?
The standard VAT rate in Bulgaria is 20 percent, with a reduced rate of 9 percent for certain services. VAT registration application is necessary when turnover exceeds the legal limit or for specific cross-border actions, making accurate invoicing and EC Sales Lists crucial for businesses engaged in EU trade.
How are accounting service fees structured in Bulgaria?
Pricing for comprehensive accounting services typically varies based on the number of transactions, payroll headcount, reporting complexity, and industry risk. Models may include a flat monthly retainer, tiered packages, or hybrid pricing with add-ons for audits or advisory, making it easier for small business owners to predict total costs.
Which industries need specialized accounting in Bulgaria?
Tech, e-commerce, manufacturing, logistics, real estate, and regulated industries (finance, energy, healthcare) usually have bespoke needs for revenue recognition, cross-border VAT, and specialized accounting services. Industry experience lowers risk and strengthens decision-making for business operations.
How do tailored accounting solutions work?
The process begins with a needs assessment, followed by a compliance review and workflow mapping. Your provider then sets reporting KPIs, integrates software, and defines a monthly calendar. Regular reviews and proactive tax planning ensure your business operations remain compliant and efficient with Bulgarian tax laws.
Daniel Malbašić je poslovni konsultant sa bogatim međunarodnim iskustvom u oblasti osnivanja firmi, strateškog savetovanja i posredovanja u kupoprodaji nekretnina u Bugarskoj. Specijalizovan je za rad sa stranim investitorima i preduzetnicima kojima pruža sveobuhvatnu podršku pri ulasku na bugarsko tržište.
Kroz platformu bugarska.net, Daniel svakodnevno pomaže pojedincima i firmama da uspešno započnu svoj posao u Bugarskoj – brzo, legalno i bez stresa.
