Traders, cooperatives and non-profit legal entities in Bulgaria are obliged to publish their financial results in 2017. This obligation must be made by the natural persons or the legal representatives of the companies after a duly taken decision by their members, partners or shareholders. It  important that the application for the publishment of the annual financial report to be submitted to the Registry Agency no later than the end of June 2018, which date is set by the Accountancy Act as final deadline. We remind you that the sanction for non-compliance with this obligation is between BGN 200 and BGN 3000 for natural persons and a  sanction un amount of 0.1 to 0.5% of the annual income of legal entities for the respective period. The violation itself is investigated by the employees of the NRA, after which the Minister of Finance or a person authorized by him / her shall issue a penalty decree imposing the sanction.

In case you do not want to waste your precious time queuing in front of the Registry Agency, contact our Legal Counsellor team. We will prepare the necessary documents and publish your annual financial report in order to comply with the requirements of the law.