Deadline for filing the annual financial statements (GFO): 30.09.2023
All commercial companies, including branches of foreign companies, cooperatives, local legal entities that are not traders, budget enterprises, consortiums, partnerships, funds and insurance funds, commercial representations, and foreign legal entities carrying out commercial activity in Bulgaria are required to file their annual financial statements in the Commercial Register by 30 September 2023 - unless they have had no commercial activity and have submitted a declaration of inactivity.
Fines under the Accounting Act
Under the Accounting Act, fines are as follows:
- for responsible officials - from BGN 500 to BGN 2,000;
- for the legal entity or sole trader - from BGN 500 to BGN 3,000.
For a repeated violation, the penalty is doubled.
Sanctions under the Commercial Register Act
- for responsible officials - from BGN 100 to BGN 500;
- for the legal entity or sole trader - from BGN 500 to BGN 1,000.
Fines and sanctions may be imposed separately.
If you have questions regarding the filing of your annual financial statements or the accounting services for your company, do not hesitate to contact us.