Time's Up: Last Call for Tax Returns in Bulgaria

As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns. For those utilizing electronic services, the deadline is midnight, while those opting for paper submissions at revenue agency offices must do so by 5:30 pm.

The National Revenue Agency (NRA) reports that over 707,000 individuals have already submitted their tax returns, with nearly 85% utilizing the convenient Portal for electronic services. While more than 17,000 taxpayers have chosen mail submissions, over 87,000 have opted to visit an NRA office in person.

The annual tax return is obligatory for individuals who received royalties in 2023, irrespective of whether their tax was fully withheld by the income payer. Additionally, farmers and those earning income from property rent or sale in the previous year must also complete the form.

Certain foreign-sourced incomes subject to final tax, such as dividends, liquidation shares, and game or contest prizes not provided by an employer, must also be declared. Moreover, individuals engaged in merchant activities, including sole traders, and farmers under specific tax systems, have until July 1, 2024, to submit their annual income declarations. However, sole traders or registered farmers earning non-related income, such as rent, must file by April 30th.

The NRA emphasizes the convenience of its electronic services portal, accessible with a personal identification code (PIK) or electronic signature (KEP). Users can take advantage of the pre-filled declaration feature since March, reflecting data submitted by employers and income payers.

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