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Miroslav Angelov – Manager and owner of the accounting firm MKAFINANCE

Mr. Angelov, how and when did the idea of creating MKAFINANCE come about? My accounting firm has been serving clients for more than ten years. The idea came about due to the excessive demand for my accounting services from various…

Legal minimum wage and maximum social security threshold

The value of human resources for conducting business operations, the funds that a worker or an employee receives from the employer for the tasks completed, the services provided, or the results achieved, is called a wage. At a macro level,…

Filing the annual financial statements of dormant companies

An annual financial statement is being filed at the end of the accounting year. It presents a combination of interconnected financial and accounting informational materials that report a company’s returns, as well as its active and passive assets. It provides…

Company registration in Bulgaria – approaches, procedures, and terms

The registration of a legal entity is a mandatory procedure for every entrepreneur that aims to develop legitimate business and meet the regulatory requirements on the territory of the Republic of Bulgaria. What are the different types of legal entities...

Bulgaria – the supreme destination for digital nomads

Who are the digital nomads? Digital nomadism is a recent-decade phenomenon that faces increasing popularity and a growing abundance of followers all over the developed world. Put shortly, digital nomads are people who can smoothly manage their professional responsibilities from…

On-Demand Warehousing Regime

The trade of Goods in EU is simplified from administrative and VAT regimes. When a BG supplier of a particular group of goods, sells to certain EU customers who is know who they will be. They have the ability to…

VAT margin schemes

VAT margin schemes tax the difference between what you paid for an item and what you sold it for, rather than the full selling price. You can choose to use a margin scheme when you sell: • second-hand goods •…

Advance corporate tax

The corporate tax in Bulgaria is 10%. It is declared with an annual corporate tax declaration till 31.03 every year for the previous one. If the turn over of the company for the previous year is more then 300000 BGN,…

VAT refund

Bulgarian companies can hold back the VAT of their purchases for 12 months. They can use the VAT refund when ever they need it for that period. If some of the VAT of the purchases is not used completely. Then…

Types of management contracts

A company manager can choose the social security type: he can be a self-insured person with a fix social security for 510 leva salary and minimum social security. he can also have Contract for management and control. This type of contract…