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Tax Minimization in Bulgaria

Tax Minimization in Bulgaria

Updated on Monday 18th April 2016

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Tax minimization strategies in Bulgaria are used by business owners who want to minimize their tax liability. This can be achieved in a number of ways, depending on the type of business. Our Bulgarian law firm can provide a complete insight into the existing legal tax-reduction strategies.
If you want to make sure that for your business in Bulgaria you don't pay more taxes than necessary, it is advisable to seek the help of a professional tax planer. A good tax plan will help you avoid overpaying. The tax saving strategies offered by our accountants in Bulgaria are legal and comply with the existing Company Law and Tax Law in Bulgaria.

Strategies for tax minimization in Bulgaria

Tax deductions can be brought forward into the current fiscal year to allow the reduction of the taxable income. This tax minimization strategy can be applied to gifts purchased for employees in Bulgaria or business partners, repairs for your property in Bulgaria, various office supplies purchased for your business and even subscriptions or memberships for various organizations.
Capital gains are the profits made after an asset has been sold. Typically, assets increase their value over time. The increase of the value is subject to a special tax, the capital gains tax. Capital gains in Bulgaria are taxed at the normal corporate income tax rate applicable in the country.
Strategic investments can also be a solution for tax minimization. By carefully evaluating existing credits, lendings and existing life insurances, business owners in Bulgaria can also make important tax savings.

Important aspects about taxation in Bulgaria

The main applicable taxes in Bulgaria are:
- the corporate tax,
- the withholding tax,
- the personal income tax,
- other taxes applicable for corporations.
The standard corporate tax rate in Bulgaria is 10%, and the standard VAT rate is 20%, with a reduced rate of 9% applicable for various services. The tax year in Bulgaria is the calendar year and the annual tax return must be filed by April 30th.
Our lawyers in Bulgaria can help you with more information about the Bulgarian legislation for foreign investments. Please contact our attorneys in Bulgaria for a complete offer of our legal services. If you are interested in financial services in other countries, such as Luxembourg, you may contact us to put you in touch with our affiliates.


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