Processing of salaries, social securities and taxes is often a complex and confidential matters that require full knowledge and careful study of the changes in regulatory requirements.

To process the payroll agenda of your employees on a high-quality level you would need at least a payroll accountant, a lawyer and a quality software, apart from additional related indirect costs. Moreover, deadlines would appear in your calendar steadily which you have to keep in carrying out wages-related matters, deadlines provided for by law and, thus, mandatory for you.

Through by outsourcing of the payroll administration we shall unload you of any related concern. We provide payroll services to our respected customers of all staff of the company or only of the management team when strict confidentiality is required.

Our payroll services include the calculation of net royalties, taxes and insurance, preparing payment documents, on-line banking, servicing of special bank account, which is used only for payment of salaries in order to keep confidentiality.

Payroll services we provide to our customers are:

• Consultation about the form of recruitment
• Preparation of monthly payroll ledgers and pay slips
• Calculation of sick leave and paid leaves
• Preparation of labor and civil contracts
• Registration and re-registration of labor contracts in National Revenue Agency
• Preparation of documents for the termination of labor contracts
• Preparation of bank documents and on-line banking
• Reports for insured persons in the register of the National Security Institute
• Representation toward a National Revenue Agency and National Security Institute
• Outstaffing and other related services

Qualitative Tax Planning gives you a number of opportunities to legally reduce Bulgarian or foreign taxes related to the performance of your planned activity. Tax planning is a key step towards optimizing costs and should be done in advance.

Useful registration information under the VAT Act:

Every person or company can register under the VAT Act. The law makes no difference in this respect and grants the right of choice to each individual.

There are basically two types of registration - voluntary and mandatory. All persons who have made a turnover of more than 50 000 BGN for the last 12 months should be registered. This period has not necessarily expired in order to file an application for registration. For example, a newly established company, which made a turnover of more than BGN 50,000 in the first month of its existence, should immediately file an application for registration under the VAT Act.

Voluntary registration can be made by any person who does not meet the above requirements but wishes to take advantage of the VAT Registration.
When the conditions for mandatory registration have occurred, an application for registration has to be submitted. This is necessary to be done by the 14th of the month following the month in which the minimum turnover is reached. Where a voluntary registration is made, an application may be filed at any time at the request of the applicant.

Within 7 days of filing the application, the revenue authority shall verify the grounds for registration. After that check, within seven days, the person is registered or the registration is denied. Additional documents may be required in the meantime to show the grounds for registration.