Number of Corporation Tax Returns Submitted in 2008 Up 34 Per Cent Year on Year

By the March 31, 2008 deadline, the National Revenue Agency (NRA) offices received 210,000
corporation tax returns, 34 per cent more than the 156,000 submitted last year, the NRA said Wednesday.

The increased number is due to several factors: first, part of the companies which used to be part of the grey economy have come to light; secondly, the conditions for doing business in Bulgaria have improved and, as a result, a larger number of new companies have registered; and thirdly, returns have been filed by the legal persons which were previously liable to licence tax, BTA is reporting.

Electronic submission of returns enjoys a particularly intense interest this year. Forty thousand companies submitted their tax returns online by March 31, quadruple the number in 2007.

Natural persons have so far submitted some 300,000 tax returns, and another 350,000-400,000 are expected until the April 30 deadline.

The NRA is launching a new type of tax return with a bar code. It can be downloaded from the NRA Internet site and can be completed offline. Tax returns can be filed online, or in a hard copy at the NRA territorial directorates and at the post offices.