Experta – Счетоводна агенция

Fines and penalties for failure to submit the 2023 SFO

Deadline for announcement of GFO 30.09.2023.

All commercial companies, including branches of foreign companies, and cooperatives, local legal entities that are not traders, budget enterprises, consortia, companies under the PPA (PPA), funds and insurance funds, commercial representations, foreign legal entities carrying out commercial activities on the territory of the country are obliged to declare in the Commercial Register the GFO for the previous year by 30 September, except when they have not had commercial activities during the financial year and have submitted a declaration of no activity.

Under the Accounting Act, fines are:
for responsible officials -– от 500 до 2000 BGN;
for the legal entity or sole trader – от 500 до 3000 BGN.
For a repeat offence the penalty shall be double.

The penalties under the Commercial Register Act (CRA) are as follows:
for the officials responsible – от 100 до 500 BGN;
for the legal entity or sole trader – from 500 to 1000 BGN.

Fines and penalties may be imposed separately.