In short
- Bookkeeping starts on day one — even with zero transactions, dormant companies still have to file.
- VAT registration is mandatory above €51,130 annual taxable turnover, but voluntary registration from the start often makes sense for B2B EU sales.
- The recurring calendar: VAT by the 14th monthly if registered; corporate tax return by 30 June; annual financial statements published by 30 June.
- Getting the paperwork sorted before you start incorporating is a different job — see our pre-incorporation checklist → if you haven't filed yet.
Immediately: accounting from month one, even at zero activity
A Bulgarian company is required to keep books and file returns from the moment it's entered in the Commercial Register — there's no grace period for "we haven't started trading yet." If the company genuinely has no transactions in its first months, that's still recorded, not ignored: a dormant company files a declaration of inactivity rather than a full set of financial statements, but it has to file something. Setting up bookkeeping in the first days, rather than waiting until there's revenue to report, avoids a scramble later. See accounting services.
Immediately: the VAT decision
VAT registration becomes mandatory once taxable turnover exceeds €51,130 in a calendar year, with a 7-day deadline from crossing the threshold. But waiting for the threshold isn't always the right call. If your customers are VAT-registered businesses elsewhere in the EU, or you're clearly going to cross the threshold within the year, registering voluntarily from incorporation is usually simpler than a mid-year registration — it avoids re-issuing invoices and means your VAT number and EU VIES status are live from your very first sale. Details: VAT registration.
Immediately: activating the operating bank account
The account used to deposit the share capital before filing isn't automatically the account you should be invoicing into day-to-day — some banks convert it into the standard operating account after entry, others expect a separate operating account to be opened. Confirm which applies before your first invoice goes out. Treating the capital account as a general operating account when the bank hasn't set it up that way is a common early mix-up (see the mistakes below).
The first-quarter compliance calendar
| Deadline | Obligation | Applies if |
|---|---|---|
| 14th of each month | VAT return and VIES declaration for the preceding month | VAT-registered |
| 25th of each month | Payroll declarations (Declarations 1 and 6) and social security contributions | hiring staff or insuring a self-insured director |
| 15 December | Final advance instalment for corporate tax | prior-year net sales revenue exceeded €153,388 |
| 30 June (following year) | Annual corporate tax return (Art. 92 CITA) and NSI activity report, or declaration of inactivity | every company, active or dormant |
The advance-instalment obligation only kicks in once the company has a full prior tax year on record showing net sales revenue above €153,388, so a brand-new company won't hit it in year one — but it's worth knowing it's coming. Full year-round calendar: taxes and social security 2026.
Common first-90-days mistakes
- ✓Assuming "dormant" means "no filing." A company with zero transactions still owes the annual declaration of inactivity in the Trade Register by 30 June. Missing it because nothing "happened" is one of the most common gaps we see in accounts taken over from elsewhere.
- ✓Not registering for VAT proactively when B2B EU sales require it. Waiting for the €51,130 mandatory threshold makes sense for a purely domestic business, but it can create real friction — re-issued invoices, VIES gaps — for a company that's clearly going to be invoicing other EU VAT-registered businesses from the start.
- ✓Conflating the capital deposit account with the operating account. Running invoices and expenses through an account the bank still treats as the capital account (rather than a confirmed operating account) causes reconciliation headaches later — worth confirming with the bank in week one, not month three.
Frequently asked questions
Do I need to file anything if my company has had zero activity?
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Yes. A dormant Bulgarian company still owes an annual filing — a declaration of inactivity in the Trade Register by 30 June — even with zero transactions. Skipping it because "nothing happened" is one of the most common mistakes non-resident owners make.
How soon after incorporation do I need to decide on VAT?
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There's no fixed deadline to decide voluntarily, but registration becomes mandatory within 7 days of exceeding €51,130 in taxable turnover for the calendar year. If you know from day one you'll be invoicing VAT-registered EU businesses, registering at formation is usually simpler than registering mid-year.
Is the capital account the same as my operating bank account?
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Not necessarily. The capital account is opened specifically to deposit the share capital before filing; many banks convert it into the standard operating account after incorporation, but some require you to open a separate operating account. Confirm which applies with your bank before you start invoicing.
When is the first corporate tax return due?
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The annual corporate tax return under Art. 92 of the Corporate Income Tax Act is due by 30 June of the year following the tax year, along with the annual activity report to the National Statistical Institute — the same deadline applies whether the company traded or stayed dormant.
Sources
Corporate Income Tax Act; VAT Act (State Gazette No. 115/30.12.2025); Commercial Register and Register of Non-Profit Legal Entities Act; Accountancy Act; nra.bg; registryagency.bg. Verified 4 September 2026.
Important
Bulsmetka is a private accounting firm, not a government body. Information is general and does not replace individual advice.