Bulgaria
Financial Reporting Obligations for Companies in Bulgaria
1. Registry for Financial Statements Submission
In Bulgaria, companies must submit their financial statements to the Commercial Register and Register of Non-Profit Legal Entities (Търговски регистър и регистър на юридическите лица с нестопанска цел), administered by the Registry Agency. Online services are available via the Registry Agency portal ( https://portal.registryagency.bg ) and information site ( https://www.registryagency.bg ).
2. Legal Forms Required to Publish Financial Statements
The following legal forms in Bulgaria are required to submit and publish their financial statements:
- АД (Акционерно дружество – Joint stock company)
- ООД / ЕООД (Дружество с ограничена отговорност / Еднолично ООД – Limited liability company / Single-member LLC)
- КД (Командитно дружество – Limited partnership)
- СД (Събирателно дружество – General partnership)
- КДА (Командитно дружество с акции – Partnership limited by shares)
- ЮЛНЦ (Non-profit legal entities) engaged in public-benefit activities
Legal forms that are generally not obliged to publish include Sole Traders (ЕТ) unless specific thresholds apply (e.g., certain revenue levels), and some small/micro entities outside statutory triggers.
3. Companies Required to Audit Financial Statements
The obligation to audit depends on legal form and size thresholds (turnover, total assets, employees). The table below summarizes the requirements:
|
Legal Form |
Rule |
Criteria |
|
АД (Joint stock company) |
Audit required if 2 of 3 are exceeded |
Turnover > BGN 16,000,000 |
|
ООД / ЕООД (LLC / Single-member LLC) |
Audit required if 2 of 3 are exceeded |
Turnover > BGN 16,000,000 |
|
СД (General partnership) |
Audit required if 2 of 3 are exceeded |
Turnover > BGN 16,000,000 |
|
КД (Limited partnership) |
Audit required if 2 of 3 are exceeded |
Turnover > BGN 16,000,000 |
|
КДА (Partnership limited by shares) |
Audit required if 2 of 3 are exceeded |
Turnover > BGN 16,000,000 |
|
Micro-enterprises (Микро предприятие) |
Exempt unless special conditions apply |
Turnover < BGN 1,400,000 |
|
Small enterprises (Малко предприятие) |
Audit if exceeding set thresholds |
Turnover > BGN 16,000,000 |
|
Medium enterprises (Средно предприятие) |
Audit required if 2 of 3 are exceeded |
Turnover > BGN 76,000,000 |
|
Sole traders (ЕТ) |
Exempt from audit |
Unless revenue exceeds BGN 100,000 or specific circumstances apply |
4. Financial Statements Submission for Listed Companies
Companies listed on the Bulgarian market must publish their financial statements on the Bulgarian Stock Exchange (BSE) ( https://www.bse.bg ).
5. Deadline for Submission of Financial Statements
The typical deadline for submitting annual financial statements is:
- By 30 June of the following year for most entities.
- Some non-profit entities may have different deadlines (e.g., 31 May).
6. Partial Financial Statements Submission
Certain entities (e.g., individual entrepreneurs with revenue under BGN 100,000) may submit simplified statements, typically limited to profit and loss.
7. Consequences of Non-Submission
Failure to submit on time may result in fines (commonly BGN 200–3,000 for responsible persons). Persistent non-compliance can lead to legal action, including possible deregistration from the Commercial Register.
8. Reporting Requirements for Foreign-Owned Branches
Foreign-owned branches must follow the same filing rules as domestic entities and submit to the Commercial Register. Newly established companies typically submit partial financial statements for the first incomplete financial year.
Sources
|
Source |
Link |
|
Registry Agency – Commercial Register and Register of NPLE |
|
|
Registry Agency (information site) |
|
|
Independent Financial Audit Act (BG) |
|
|
Bulgarian Stock Exchange (BSE) |
| Start Companies Search | Order Credit Report |
Keywords
financial report submission in Bulgaria; financial statement requirements for Bulgarian companies; financial reporting obligations in Bulgaria; annual report requirements for Bulgarian companies; Bulgarian annual report submission rules; annual report filing deadlines in Bulgaria; Bulgarian accounting standards for companies; audit requirements for Bulgarian companies; Commercial Register and Register of NPLE (Registry Agency); Independent Financial Audit Act of Bulgaria (GSL Law & Consulting); BSE Bulgaria (Leinonen Global)
