Independent outsourced provider of full range of services to support inward investors who would like to enter the Bulgarian market.
Consulting Services Provider
Both corporate income and personal income are taxed in Bulgaria at 10%, which is the lowest rate within European Union countries. Capital gains are included in the income tax calculation and dividends are taxed at 5%, unless they are made to other EU-based companies, in which case there is no tax.
Social contributions are payable by both employers and employees (in the proportion 60:40), on the first BGN 2,600 (approx. EUR 1,300) of income. Taxes and contributions are withheld by the employer.
VAT is 20%, with reduced rates of 9% for a few specific categories (such as hotel accommodation). Withholding taxes at a rate of 10% are applicable for certain income (such as interest, royalties, some consulting and professional services) or at 5% for other income (including dividends and liquidation quotas), but exemptions or reductions are available based on EU directives or double taxation agreements.
Corporate income tax returns and the associated payments are due by March 31 of the year after that being assessed.
Services we could
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“We take a proactive approach by reviewing, not just processing, the information provided to us.”
About Us
MiP Consulting is an independent outsourced provider of full range of services to support inward investors who would like to enter the Bulgarian market, establish business operation and benefit from the lowest corporate income tax. We provide specialist advice to Bulgarian businesses as well as to companies operating cross border in all aspects of the legal, financial and operational structuring of their activities and underlying transactions.
We take a proactive approach by reviewing, rather than just processing, information provided to us. This is imperative in legal and tax environments that are constantly evolving. The priorities of MiP Consulting are aimed at achieving long-term loyal business relationships that favour the success of your business by providing real and accurate information to the management about the company finances, which helps and facilitates decision-making.
Our services include tax optimization for international and local structuring, advice and assistance on direct and indirect taxes, transfer pricing, international trade, and avoidance of double taxation. Consulting services are combined with competent and reliable accounting services, provided by our team which has vast experience with companies from different business sectors.
