11.01.2021
The state returns money to every parent who ...
As of today, January 11, the campaign for declaring the incomes of the citizens from 2020 starts.
BGN 20 per child will be returned to you from the state treasury if you did not use the tax relief in December through your employer and file an annual income tax return.
As of today, January 11, the campaign for declaring the income of the citizens from 2020 starts. A tax return must be submitted by all those who have taxable income outside their salary, such as fees, rents, civil contracts, as well as if they want to use some relief and did not do so through their employer at the end of 2020.
The tax relief for children allows one of the parents to reduce their due taxes by BGN 20 for one child, by BGN 40 for two children and by BGN 60 for three or more children. If a person has paid all his taxes last year, now the treasury can refund these amounts.
For this purpose, the parent must fill in the application for the use of benefits to his/her annual tax return and at the time of submitting the return there must be no unpaid debts to the treasury.
A discount of 5% of the top-up tax, but not more than BGN 500, can be used by people who submit their income tax return by March 31 and at the time of filing have no enforceable obligations to the treasury. The deadline for submitting declarations for individuals is April 30.
In March 2021, after the submission of data by employers and payers of fees, the electronic pre-filled income tax return will be released, which is submitted with a runway or electronic signature.
It will automatically enter data on income received in 2020 from salaries, civil contracts and fees, rental income for properties whose tenants are legal entities and others. Therefore, if you want to use the conveniences of a pre-filled tax return and not take notes from the employer for income received, it is better to wait.
But if the treasury has to return your money, the earlier you submit the declaration, the faster you will receive it.
One of the tax reliefs is for young families with a mortgage loan. It allows one of the spouses to reduce his taxable income with the interest expenses incurred during the year for the first BGN 100,000 of a mortgage loan for the purchase of their only home. Thus, if a person has paid BGN 3,000 for interest, now the taxes due by him will be reduced by BGN 300.
Rules
The deadline for companies is June 30
Companies file corporate tax returns from March 1 to June 30, according to the latest changes in tax legislation. The deadline for paying corporate tax is also June 30. These deadlines apply to both sole traders and farmers who have chosen to pay tax as sole traders.
If a sole trader has other income, for example from rent, he must declare it by April 30, and then he can submit a second declaration for his commercial activity by June 30. Of course, as early as April 30, he can declare all his income from 2020.
Additional information about the tax and insurance requirements can be obtained from the website of the revenue agency nap.bg and on the phone of the Information Center of the National Revenue Agency 0700 18 700 at a price according to the tariffs of the respective operator.
