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What Happens if You Miss a Filing Deadline in Bulgaria? Penalties Explained for Expats
You should know one thing clearly: filing deadlines are strict and missing them has serious consequences. Even a short delay can result in fines, interest, and extra scrutiny from the authorities.
Filing Deadlines Are Fixed by Law
In Bulgaria, tax and reporting deadlines are legally binding. This includes:
- Corporate and personal tax returns
- VAT declarations
- Annual financial reports
- Social security contributions
Unlike in some other jurisdictions, Bulgarian law offers little tolerance. Being even a few days late can trigger penalties.
Penalties for Late Filing
Below is an overview of the most common fines:
| Type of Obligation | Penalty (BGN) |
|---|---|
| Late Tax Returns | 500 – 2,000 (companies) 50 – 500 (individuals) |
| Late VAT Declarations | Starting from 500, increasing with repeated delays |
| Late Annual Financial Statements | 200 – 3,000 (companies) |
Keep in mind: these penalties apply per missed obligation. If you fail more than one requirement, the costs add up quickly.
Interest on Late Payments
If you delay paying taxes or social contributions, the Bulgarian National Revenue Agency charges daily interest until full payment is made. Even a short delay can increase your total cost significantly.
Risk of Audits and Business Restrictions
Repeated non-compliance does more than cost money. It also raises suspicion. Consequences may include:
- Frequent audits and inspections from the National Revenue Agency (NRA)
- Restrictions when applying for loans or public tenders
- Damage to your business reputation in Bulgaria
How to Stay Compliant
The key message is simple: never ignore a filing deadline in Bulgaria. Missing even one deadline can snowball into serious issues. If you are unsure about specific deadlines or need help managing compliance, our team at ASB Accounting Services Bulgaria is here to help. We handle the reporting process for you, so you can avoid penalties and focus on growing your business with confidence.