Every Bulgarian company has obligation to submit in the Bulgarian Trade register its financial report which are accompanying the annual Tax Return. The obligation follows the company even the company has no performed any activity during the previous year.

The deadline for publishing the report is 30th of June of the respective year, if the company has activity.

If the company has no activity during the year, the obligation to submit its report is till the end of March.

The legal entity which fails to fulfill its obligation for submitting of the report within the deadline specified above shall be sanctioned by fine of BGN 1,500 to BGN 3,000.

So, in accordance with the regulations of the new Commercial Register Act the companies have the obligation for publication of their financial report and other accompanying accountancy documents within the deadlines specified above.

Prepared by Valova & Angelova Law Firm