Deadline for Annual Financial Statements and Corporate Income Tax Declarations in Bulgaria extended to June 30

Today, 11 January the tax campaign for physical persons’ incomes received in 2020 has been launched, reminds the National Revenue Agency.

The declaration and payment of income taxes received last year can be made electronically – via personal identification code or electronic signature, or on paper – either by post or physically in an office of the revenue agency.

From 1 March, we will be able to see our pre-filled tax return on entering our personal code, and only in March we will use a 5% tax discount for further payments.

Parents are entitled to tax relief – BGN 200 lower tax base or BGN 20 lower tax for one child, BGN 40 – for two and BGN 60 – for three.

Although late last year MPs approved changes that would make the benefits more generous, they could be applied to incomes in 2021.

As of today, the electronic services of the NRA are already available again. Last year the NRA warned that due to the annual balance time and integration of information systems payments through a virtual POS terminal or physically in an office of the agency will not be possible till 10 January. The restoration of health rights was also under a specific regime, only for this period.

For the first time, with the tax campaign, corporate tax returns may be submitted from March 1 to June 30, not in the beginning of the year as before.

Read also: Loans in Bulgaria Increase by 11% on Yearly Basis, Top 10 Tax Destination

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