Annual tax returnAt this time of year, individuals are often asked if they need to file an annual tax return for the previous year. Here Art. 50 of the Personal Income Tax Act gives a normative justification of the requirement for submission. In this article we will look at several cases in which an individual must file an annual tax return.

Taxable income based on the total annual tax base:

  • Rental income;
  • Income from non-employment relationships (civil contract);
  • Income from rights and transfer of property;
  • Cash and prizes in kind;
  • Interest income;
  • Other income
  • Income from dividends and liquidation shares, as well as exchange of shares and units received from a source abroad;
  • Income from farmers, sole traders and freelancers;
  • Income from dividends and liquidation shares, as well as exchange of shares and units received from a source abroad;
  • Return of life insurance and interest on bank accounts received from a foreign source and described in detail in Article 38, paragraph 8 and paragraph 13 of the law;
  • The outstanding part of the granted and / or received cash loans during the tax year, if their total amount exceeds BGN 10,000, except for the received loans from credit institutions;
  • The outstanding part of the granted and / or received cash loans during the same or previous five tax years, if their total amount exceeds BGN 10,000, except for the received loans from credit institutions;
  • Persons who have earned income from personal work in the companies in which they are owners, partners, shareholders and co-operative members.

Procedure for filing an annual tax return

The deadline for filing the annual tax return (as well as for declaring social security contributions) is often set between 10 January and 30 April of the year following the year in which the income was received.

Declaration can be obtained in any office of the NRA or on the website of the agency

An annual tax return can be filed in a variety of ways, including:

In addition to the runway or QES, you must submit an application to the NRA with a request for access to the computerized services of the administration. Self-insured persons within the meaning of CSR submit their annual tax return only electronically.

  • in the office of the National Revenue Agency at your permanent address;
  • by post with return receipt;
  • at a post office;
  • on site at certain post offices against an incoming number.

Please note that you can apply a 5% tax reduction to supplement your annual tax return when filing it online, but only up to BGN 500.

To do this, you must meet all of the following requirements at once:

  • By March 31, you have submitted the declaration electronically.
  • At the time of its submission, you have no enforceable public obligations;
  • The tax for additional payment on the annual tax return has been paid by March 31 of the following year.

Depending on how you file your annual tax return, you will receive a receipt with the incoming number:

  • through the Portal for electronic services of the NRA, which is accessible with a runway and electronic signature
  • by e-mail to transfer an electronic signature;
  • in the office of the National Revenue Agency, upon submission on the spot;
  • by post, when sent by post;
  • at post offices.

If you still have questions and are unsure whether to file an annual tax return, we at T&G Consulting are here to help. CONTACT US