Service 04 of 08
Accounting & Tax Compliance (Bulgaria)
A Bulgarian company keeps books in double-entry form and files with the state on fixed annual deadlines, whether or not you have ever dealt with either before. Most companies our size qualify for simplified reporting. We handle the filing either way.
- Double-entry bookkeeping required for every EOOD and OOD, no exceptions
- 30 September statutory deadline to file the annual financial statement with the Commercial Register
- No audit required for most companies — the mandatory independent audit only applies above roughly €2 million in assets or €4 million in turnover
- Self-insurance, if you manage your own company a foreign owner-manager without a labour contract has separate monthly obligations
What's included
What a Bulgarian company actually has to file, and when
Bulgarian law requires every limited-liability company to keep its books using double-entry bookkeeping, recorded in chronological order and backed by documentary evidence for every transaction. This is not optional and does not scale down for a small company — the flexibility Bulgarian law does allow is in how much you have to publish afterward, not in how you keep the books day to day.
Most companies in our client base qualify as a micro-enterprise under Bulgarian law: assets under roughly €460,000, net sales revenue under roughly €920,000, and an average of ten employees or fewer, meeting two of those three thresholds. A micro-enterprise can file a simplified annual financial statement — an abbreviated balance sheet and an abbreviated income statement, rather than the full set required of a larger company. The full annual financial statement, whichever size it ends up being, is filed with the Commercial Register by 30 September of the following year.
A mandatory independent financial audit is the exception, not the rule. It only applies once a company exceeds two of three considerably higher thresholds — assets above roughly €2.05 million, net sales revenue above roughly €4.1 million, or more than fifty staff — or automatically for medium and large enterprises and public-interest entities. A new company operating well below those figures does not need one, and we tell clients this plainly rather than letting an unnecessary audit quote go unquestioned.
If you manage your own company without a formal employment contract, Bulgarian law treats you as a self-insured person, and the social and health insurance contributions that would normally come out of a payslip become your own monthly obligation instead. For 2026, the minimum monthly insurance income for a self-insured person is €550.66 and the maximum is €2,111.64, with contribution rates of 14.8% for pension, 5% for the supplementary mandatory pension fund, and 8% for health insurance, plus an optional 3.5% for sickness and maternity cover. This has to be declared within seven days of starting the activity and reconciled annually against your actual income.
Most clients need less reporting than they expect
Micro-enterprise status, no mandatory audit, and a single annual filing deadline cover the great majority of the companies we register. We tell you exactly which category you fall into before quoting anything, rather than pricing for a compliance burden you don't actually carry.
Deliverables
5 items- Monthly bookkeeping Double-entry records kept current, not reconstructed at year end
- Annual financial statement Prepared in the simplified micro-enterprise format where you qualify, filed with the Commercial Register by the statutory deadline
- Self-insurance registration and filing If you manage your own company without a labour contract, handled from the initial declaration through annual reconciliation
- Corporate tax return Filed correctly and on time, every year, without last-minute scrambling
- A plain answer on whether you need an audit Checked against the actual thresholds, not assumed
How it works
From monthly bookkeeping to annual filing
An ongoing service, not a once-a-year scramble.
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1
Category confirmed Day 0 · us
We check your company against the micro/small/medium thresholds so you know exactly what level of reporting applies before anything is filed.
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2
Monthly bookkeeping ongoing · us
Transactions recorded in double-entry form as they happen, not reconstructed from a shoebox of receipts in March.
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3
Self-insurance, if applicable within 7 days of starting activity · us
Registered and declared correctly from the outset if you manage your own company without a labour contract.
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4
Annual financial statement and tax return by the statutory deadlines · us
Filed with the Commercial Register by 30 September of the following year, in the simplified format where you qualify.
Who this is for
Who this service is built for
Indian IT and services companies
A services company with modest turnover almost always qualifies as a micro-enterprise, which keeps annual reporting genuinely light.
See the India page →E-commerce sellers needing an EU entity
Bookkeeping that correctly separates VAT-liable and VAT-exempt sales matters more here than almost anywhere else in the business.
See e-commerce sellers →Korean companies needing an EU subsidiary
Where the subsidiary's own director manages it directly rather than through a separate employment contract, the self-insurance obligation applies to them personally.
See the Korea page →Get in touch
Not sure what your company needs to file?
The reporting requirements depend on your company's size, activity and structure. Get in touch and we will tell you exactly what applies — most clients need less than they expect.
Related services
Services that usually go with this one
VAT registration
VAT and EORI registration is the other half of most companies' recurring filing obligations, and the two run on related but separate deadlines.
Read more → Service 01Company formation
Your first accounting period starts from the date the company is registered, not from whenever bookkeeping actually begins.
Read more → Service 08Ongoing compliance
Annual filing deadlines are one part of a wider compliance calendar that continues for as long as the company exists.
Read more →Questions
Questions, answered
If your question is not here, ask it on the discovery call — there is no charge for it.
Does my small company need a full independent audit every year?
Almost certainly not. A mandatory audit only applies once a company exceeds two of three thresholds — roughly €2.05 million in assets, €4.1 million in net sales revenue, or fifty staff — or automatically for medium and large enterprises. A new company well below those figures does not need one.
What does "micro-enterprise" actually mean for my reporting?
It means you likely qualify for a simplified annual financial statement — an abbreviated balance sheet and income statement, rather than the full version. The thresholds are roughly €460,000 in assets, €920,000 in net sales revenue, and ten staff on average, meeting two of the three.
I manage my own company personally. Do I need to pay myself a salary?
Not necessarily, but if you manage the company without a formal labour contract, Bulgarian law treats you as a self-insured person, which means the social and health insurance contributions that would otherwise come from an employer become your own monthly obligation. For 2026, that is calculated on a monthly insurance income of between €550.66 and €2,111.64, at rates of 14.8% for pension, 5% for supplementary pension, and 8% for health.
When exactly does the annual financial statement have to be filed?
By 30 September of the year following the reporting year, filed with the Commercial Register. This is a later deadline than some sources imply — a narrower 30 June deadline exists, but only for a one-time declaration that a company had no activity during the period, not for the general filing requirement.
What happens if I hire a local freelancer under a civil contract instead of employing them?
The person is taxed under separate rules: a flat 25% deduction for costs, then a 10% advance tax on the remainder, generally withheld and paid by whoever pays them if that payer is a company or another self-insured person. This is declared quarterly. It's a different mechanism from either salaried employment or self-insurance, and mixing them up is a common source of filing errors.
Ready to get your accounting set up properly?
A short call is usually enough to confirm your company's size category and exactly what you'll need to file, and when.