Trust in the expertise and professional experience for VAT registration. Partnering with a specialist will save you many wasted hours, money and energy.
Years of Experience
A team of highly qualified personnel with many years of experience in the field of accounting.
Guarantee of expertise and professional attitude in company registration!
Security and Transparency
Transparent terms and ethical behaviour.
Submitting information in a timely manner, unmistakable financial advice and business solutions.
Confidentiality
Full confidentiality of the set of financial information.
Fully electronic accounting with its own server and cloud storage.
What is VAT
VAT, or value added tax, is a tax levied on the consumption of goods and services. This indirect tax is levied on sales and the consumers of the goods or services purchased are responsible for its burden.
The amount of VAT tax in Bulgaria is 20% of the value of all goods or services purchased or received. This tax is added to the country’s budget and plays an important role in providing a large share of its revenue.
There are many specific laws regarding VAT which are governed by the VAT Act or the Value Added Tax Act. Although companies or traders in Bulgaria can take care of VAT verification or VAT registration on their own, most of them choose to trust experienced experts in the field.
CLIENTS THAT TRUSTED US
Marcello Marchese
Attention Age LTD
I have been a client of MKAFINANCE for over a year now and cannot imagine better service. Having trusted Italian and Spanish accountants who work more slowly, MKAFINANCE surprised me with how quickly and professionally they respond. You are in good hands with them, so don’t hesitate to give them a call.
Georgi Paunov
Unique Photo Gifts Ltd
The personal touch, free extra services, after-hours response to questions and ideas for advanced software solutions are just some of the things we are grateful to MKAFINANCE for. In them we have found not dry accountants, but true friends who understand the problems of business.
Elina Minkova
Bononia Travel Ltd
Our company has been using the accounting services of MKAFINANCE since 2017. Their strongest advantage is the special treatment and attention they give to each client. We have the peace of mind to consult MKAFINANCE for any more specific case because we always get a quick and adequate solution.
Tim Brady
Eightcap
For us MKAFINANCE is a reliable and extremely professional partner. Miroslav and his team provided us with a clear and direct action plan from the start. Since then, MKA have provided us with the right advice in every situation, and so given us peace of mind to concentrate on our business.
Ian Wooller
Scraptech International Ltd
MKAFINANCE’s willingness and ability to find a solution to all my questions in and out of business hours is their strongest asset. I believe that MKA would be of great help to any foreigner setting up a business in Bulgaria, every step of the way – even in arranging their personal documents.
Milen Tonev
Professional Street Cafe Ltd
MKAFINANCE are always highly competent, this is of great importance for us to always be up to date and up to date with the new laws of our country. We work with them and continue to do so because they are a young, energetic team that is always on point with an extremely educated and intelligent attitude.
R.V.
Zulu Consulting LTD
The MKAFINANCE team is really reliable because they are always there when we need fast and professional service or advice. The fact that MKA also have lawyers in the office is very helpful to us. They provide the full services we need – excellent payroll, accounting and legal support.
GET YOUR VAT REGISTRATION OFFER NOW!
FILE AN APPLICATIONWhen should we be VAT registered?
Registration under the VAT Act may be mandatory or voluntary. When it comes to compulsory VAT registration of an individual or a company, there are several cases.
First of all, a company is subject to compulsory VAT registration when its turnover reaches BGN 100 000 for the previous 12 months. Registration is also compulsory if turnover reaches this amount in a shorter period than two consecutive calendar months.
VAT registration is compulsory when receiving services from abroad, when providing services to companies from other EU countries, when supplying telecommunication services or radio and television services, and when selling goods remotely.
It is compulsory to register for VAT if you supply goods with assembly and installation, make intra-Community acquisitions of goods or when converting a trading company.
It is quite normal if you have no experience in this area to be puzzled and confused as to whether your company is subject to compulsory VAT registration. At MKAFinance, we can help with VAT registration checks. Relying on a specialist will save you a number of legal hassles and potential losses for your business.
VAT company registration
The standard procedure for registering an Ltd or other type of VAT company requires at least several visits to the NRA, the preparation of a number of documents, verification of important data and other key elements.
For successful VAT registration, you are likely to go through conundrums and stress. By choosing MKAFinance as your partner, you can save yourself all that.
We offer saving all these hassles by taking everything related to registration in our hands. We will take care of gathering the necessary data and preparing the documents, file the paperwork with the NRA, pick up the documents when they are reviewed and ready, and complete the entire process for you.
In the meantime, you can safely focus on other priorities related to the development of your business.
VAT registration documents and details
Necessary Documents:
- Application for registration
- Statement of taxable turnover for the last one year
- Declaration of no criminal convictions or proceedings
- Power of Attorney
- Questionnaire by model
Necessary details:
- Company name
- Description of the activity
- Company term (If relevant)
- Seat and address of the company
- Founding members
- Capital
- Nominal value of a share of the capital
- Number of company shares
- Allocation of shares by partners
- Manager
- Form of representation
VAT registration of foreign persons
If you are a foreign person making taxable supplies of goods or services in Bulgaria, you need to register for VAT. This rule applies regardless of your turnover.
You do not need to register if:
- Your supplies fall under the Union, non-EU or distance selling regimes for goods imported from third countries or territories.
- You are already registered for VAT in another Member State for one of these schemes.
- You only make supplies for which you are registered under Articles 154 and 156 of the VAT Act (for special schemes).
Registration under Articles 154 and/or 156:
- If you are registered under Articles 154 and/or 156 of the VAT Act and you become liable to register for VAT under another Article of the Act, you must register in accordance with the procedures and within the time limits for compulsory registration.
- The same applies if you decide to register for VAT by choice.
Example:
- You are a foreign company selling goods online to Bulgarian customers.
- You must register for VAT in Bulgaria regardless of your turnover.
- You have 7 days from the date on which the tax on your first sale becomes chargeable to apply for registration.
Tip:
- It is advisable to consult an accountancy firm to assist you in the VAT registration process.
Optional VAT company registration
All those who are not legally obliged to register may do so of their own free will. Legal persons (companies) who are not obliged to register for VAT on imports of goods from the EU may do so if they wish.
But what are the benefits of VAT registration? You get back the VAT on goods and services you have purchased for your business, you become more competitive in the market and you can trade with other VAT registrants.
Why choose us for VAT registration?
In MKAFinance you will find a reliable and loyal partner who will help you prepare all the necessary documents for VAT registration.
We will provide assistance with VAT verification, as well as active participation in the accounting of your company, the management of the company’s payroll and other additional activities.
Our team is distinguished by years of experience, qualified experts and enthusiasm for work. We consider the services we offer to be crucial for individuals and businesses that aim for growth and success.
You can count on us for consummate professionalism, ease of work and flexibility. We are available to provide support and assistance at any time, regardless of the size of your company or your financial stability as an entity.
Our rates are affordable and our quality of service guaranteed.
VAT registration procedure
In order to register under the VAT Act, you need to submit an application form at the NRA or online. Your application must contain a reason for registration, accompanied by the necessary documents. The application can be submitted in person or through an authorised person, depending on the legal status of the taxable person. You also have the option of submitting it electronically. If you are applying for registration by choice, you need to indicate the reason for registration without attaching a taxable turnover statement, but only indicate the reason. In this case, the documents specified in the Implementing Rules are also required. Once you have submitted the application, the NRA will verify the reason for registration within seven days of receipt. Once the verification is completed, the authority issues a registration certificate or a reasoned refusal within seven days. For certain specific cases of registration, such as those provided for in Art. 96, para. 9, 97, 97a and 99, the procedure shall be carried out by the revenue authority within three days of the application for registration.
Refusal of VAT registration
It is important to know that the NRA has the right to refuse VAT registration to a person who does not meet certain conditions. Some of them include:
- Inability to find the person's specified mailing address.
- Change of correspondence address without prior notification to the authorities.
- Non-systematic fulfillment of VAT obligations.
- Exceeding the value of public liabilities.
- Failure to provide an email address for correspondence for a period longer than three months.
- Failure to provide or provide access to original accounting documents.
