The tax minimization or the fiscal optimization is the proper instrument used by many companies in Bulgaria who want to reduce the contribution to the taxes that need to be paid. This is how the profits will be maximized in legal manners. Our company formation specialists in Bulgaria can offer you essential information and guidelines if you are interested in tax minimization in Bulgaria and can provide you with suitable options for your company.
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Tax minimization key facts in Bulgaria
First of all, it is good to know that every company in Bulgaria needs a proper tax plan in order to avoid the overpaying of the fees. The tax minimization in Bulgaria can be made if the main taxes are analyzed, such as the corporate and income tax, the social contributions, the withholding tax and the VAT. Deductions can be used as a tax minimization method when applied to gifts acquired for business associates or employees, office supplies, subscriptions for different establishments in the country or abroad.
A businessman who has a registered company in Bulgaria and makes proper activities in the chosen domain can also consider making important investments, as a suitable method for tax minimization in the country. Besides that, setting up a charity in Bulgaria might be a good idea to profit of the available tax deductions.
Our company formation representatives in Bulgaria are ready to offer detailed information about the tax minimization methods available in the country. Besides that, any entrepreneur who wants to establish his presence on the Bulgarian market can receive details about the company registration procedure in Bulgaria.
Our accountants in Bulgaria can offer you optimal solutions and complete services if you open a company in this country. Among the necessary procedures in a company, we mention payroll, bookkeeping, preparation, and submission of annual financial statements. Also, our specialists can provide you with complete financial reports, either periodically or on request, depending on what the managers and company owners want.
What you need to know about the taxation system in Bulgaria
The corporate tax rate is 10% in Bulgaria and particular incentives for investments in the most important areas of interest can be obtained. The 5% withholding tax is available for dividends in Bulgaria if they are received by non-resident enterprises. The most important tax in Bulgaria is the VAT, applicable for all goods in the country, with a 20% rate.
Please feel free to contact our company formation consultants in Bulgaria if you want more details or guidelines about the tax minimization methods available in the country. You can also receive guidance for company registration in Bulgaria.