Tax reporting and strategy

• Setting up initial configurations for the company and for each employee;
• Calculation of monthly net remuneration, personal income tax amounts and social security contributions and preparing the monthly payroll reports
• Submitting payroll reports to the relevant tax and social security authorities
• Preparing HR documentation related to payroll (e.g. hiring and dismissal documents; documentation for changes in salary, position, departmental affiliation and other significant terms of employment contracts);
• Drafting employment contracts and amendments using the client’s standard template;
• Calculating severance payments and settlements when employment is terminated
• Preparing annual tax settlements
• Assisting in making tax and social security contribution payments to the relevant tax and social security authorities
• Defining the tax/social security status of an employee in Bulgaria
• Advising in the field of taxpayer duties, filing obligations and dates
• Preparation of pension certificates, income statements
• Preparation of all bank documents related to the salary payments

• Maintaining purchase and sales records in accordance with the VAT Act
• Drawing up monthly VAT returns
• Submitting VAT returns to the tax office by the relevant due dates
• Completing quarterly summary VAT statements in respect of intra-Community transactions (EC listings)
• Completing monthly Intrastat declarations
• Completing monthly VIES declarations
• Tax advice regarding the treatment of selected transactions within the VAT law
• Tax payment advice and assistance in the refund procedures of excess input tax over output tax
• Periodic reviews of VAT calculations

• Preparing monthly and annual CIT calculation and CIT returns
• Submitting CIT returns to the tax office
• Preparing supporting schedules substantiating differences between the financial statements and the CIT returns
• Preparing deferred tax calculations and performing deferred tax reviews
• Tax advice regarding the treatment of selected transactions within the CIT law
• Tax payment advice and assistance in the tax refund procedures
• Periodic (monthly, quarterly or annual) CIT reviews
• Preparing withholding tax returns
• Identifying tax planning opportunities with a view to potential tax savings. Corporate administration services
• Supporting start-up businesses in fulfilling the regulatory requirements and preparing the company’s reporting system for effective day-to-day operations
• Registrations of the company for tax, statistical, other regulatory purposes
• Preparation of templates for compulsory documents and disclosure requirements

• Preparation of Reporting package for subsidiaries for consolidation purposes

• Assistance in the compilation (completion) of Reporting packages by the subsidiaries

• Preparation of Group Consolidation package (consolidation eliminations and adjustments)

• Assistance in the compilation (completion) of Group consolidation package

• Assistance in preparation of Consolidated financial statements

• Consulting services related to specific consolidation accounting issues (Group disposals and acquisitions treatment issues)

• Consolidation trainings with practical examples

• On-site support of company’s financial team for accounting, financial reporting and tax compliance processes, incl. during complex internal projects, group restructurings and transformations, transition periods and periods of increased workload

• Review and evaluation of internal processes and internal controls from an accounting and tax compliance perspective

• Development of accounting policies and internal procedures in communication with the company’s management and the respective internal divisions and teams

• Set-up of individual reporting templates for statutory and management purposes

• Mapping of input information from various databases in a single reporting structure through internal or PwC’s software solutions

• Assistance in month-end and year-end closing

• Assistance during statutory financial audit

We review and test the localized version of the respective accounting and/or tax modules of the ERP implemented in a local company for full compliance with Bulgarian domestic legislation.