Every Bulgarian company has obligation to submit in the Bulgarian Trade register its financial report which is accompanying the annual Tax Return. The deadline for announcement of the report is 30th of September of the respective year.

The financial report is submitted in the Trade register with special application form G2 approved by the Registry Agency. It must If the application is submitted by a lawyer, it must be

Regarding the enterprises under Art. 19, para. 1, items 1 – 3 and art. 20 of the Accounting Act (micro, small and medium-sized enterprises), a declaration certifying the acceptance by a competent authority of the annual financial report subject to announcement and the annual activity report, signed by the legal representative of the trader or non-profit legal entity, must be presented.

Regarding the enterprises under Art. 19, para. 1, item 4 and § 1, item 22 of the Additional Provisions of the Accounting Act (large enterprises and enterprises of public interest), instead of the declaration under the previous item, the documents proving the fulfillment of requirements regarding the acceptance of the subject shall be attached to Application G2 to announce the annual financial statement and annual activity report, namely:

- Protocol of a decision of the competent authority of the trader (the general meeting of the partners/shareholders/members of the non-profit legal entity, respectively the sole owner of the capital) to accept the annual financial report, annual activity report, with the exception of sole traders (ET ); and

- Evidence establishing the regular convening and holding of the general meeting of the competent collective body.

No state fee is due for applications submitted after 31.12.2021 (Article 12, Paragraph 3 of the Law on the Commercial Register and the Register of Non-Profit Legal Entities (New - SG No. 38 of 2020, in effective from 01.01.2022).

When  Application G2 is submitted by the drafter of the annual financial report or by a lawyer, the following should also be attached to the above-mentioned documents: notarized power of attorney from the legal representative of the tradrer or non-profit legal entity in favor of the accountant with the relevant qualification who prepared and signed the report; or Power of attorney in favor of the lawyer.

This article is prepared by Valova & Angelova Law Firm