Approaching Deadline for Inactive Companies

Pursuant to the Bulgarian Accountancy Act (Закон за счетоводството), companies must publish their annual financial statements in the Commercial Register and Register for Non-profit Legal Entities ("Commercial Register") by 30 June of the calendar year following the reported period. Companies that have not carried out any activity during the reported period are exempt from this obligation. The prerequisite for the exemption is that the company's lack of activity is expressly declared before the Commercial Register.

Who is responsible?

• The management may declare before the Commercial Register that the company has been inactive.

What is the filing deadline?

• 31 March 2020.