IFG Consulting provides a comprehensive advice on taxation in Bulgaria – corporate taxation, non-resident taxes, self-employment taxation , inheritance taxation etc. .
Our experts have excellent knowledge of tax law and can provide you with complete information on the tax rates in Bulgaria.
We provide our services to both Bulgarian and foreign customers. We are constantly keeping up to date with taxation legislation. Therefore we are your reliable partner.
We offer company representation to the National Insurance Institute and other institutions. For your convenience we can fill in your tax return documents, calculate the income taxes from shares , dividends, taxes on real estate and etc.
Tax protection is important issue for every company due to frequent inspections by institutional authorities. It provides up-to-date information for all government regulations. Tax protection is required in the following cases:
- Upon submission to governmental authorities in complicated legal cases;
- Upon submission to the authorities, where necessary issue or validation of insurance licenses;
- When conducting specific, general and cross-checks by the tax administration;
- In the representation in front of institutions;
- In the preparation and presentation of annual financial statements, tax returns and other required before the tax administration;
- When preparing the orders on taxes;
- In the preparation of tax returns and notices;
- In monitoring the deadlines for submission of returns and taxes;
- The analysis and evaluation of documents and audit reports by the administration, but also in evaluating the findings and determined tax liabilities;
All business transactions are subject to appropriate taxation. Tax shelter helps to find optimal solutions to enable the obligations of companies to be in compliance with current tax legislation. Companies can increase their profits when their management is well informed about tax rates, while optimal taxation solutions, Individual taxation strategies. IFG Consulting offers:
Annual reporting period shows the financial result of the company.
Annual Financial Report till 31 December of each year includes:
- a company balance sheet;
- Statement of revenue and expenditure;
- cash flow statement;
- Statement of changes in equity of the company;
- Information for the financial results;
- Information for fixed assets;
- Information for the securities;
- Information for revenue and expense;
- Information for receivables, liabilities and provisions;
- Information for shares in the capital of other companies ;
- Preparation of annual declarations;
- Preparation of annual tax returns.
For companies that posses equities in other companies, prepare financial statements for the activities of the entire group of companies.
Submission of annual declaration for each type of company.
Interim and annual financial statements
Interim reporting and annual accounts adventures operations your company requires the preparation of interim and annual financial statements.
Our services for the preparation of financial statements for interim and annual closing of accounts includes:
- Summary information on all accounts;
- Establishment of debit and credit turnovers turnover of your company for that period ;
- Establishment of the final balance
Thus you get reports that provide information about changes in your accounting object for a given period or year.
In preparing the interim financial statements for your company include the following sections in this report :
- condensed balance sheet ;
- Report on the income of your company for that period;
- Statement of changes in your own capital, not attributable to capital transactions;
- Report on the cash flow of your company for that period;
- Applications that explain the interim reports, as required.
In preparing the interim financial statements we provide the necessary update of your latest annual financial statements. They reflect new circumstances and activities carried out and delayed the preparation of the most recent annual financial statements. To interim financial statements and add applications.
The aim of the application is to complete interim financial statements so as to avoid the wrong impression because of the omission of qualifying information. Clarifying information should help those who will use your interim financial statements to understand the changes in financial position of your company and led to financial results.
Information to in the notes to the interim financial statements you will find the following facts and circumstances:
- Changes in your accounting policy;
- Information about the cyclicality of interim or seasonal matters of business operations;
- Information about material acquisitions or dividends paid after the period of interim financial statements;
- Information about the events that occurred after the period of the interim financial statements if they have not been reflected in this report;
- Other facts and circumstances, as the development of the activities of your company.
In preparing the annual financial statements include the following required elements of such statements, according to the Law on Accounting:
- Balance sheet;
- Report on revenue and expenditure of the company;
- Report on the monetary finance company;
- Report on the equity of the company as well as the necessary applications.
The advantages of the annual accounts, which prepare include:
- Reliability and impartiality in relation to information;
- Comparability with information about other companies with information about your company different reporting years;
- Utility for making decisions about the future work of the company.