Lucidio Solutions for all your payroll and accounting solutions in Bulgaria
Lucidio Solutions is servicing international companies planning to set-up companies in Bulgaria. Established international companies that are looking for a quality service provider that can improve efficiency are also in the right place. Lucidio will help clients reduce costs and we treat your data with full confidentiality. Lucidio is the right service provider for all you payroll and accounting solutions.
Your Lucidio team can provide you with the following solutions:
Incorporation of companies
Assistance in key steps for incorporating companies with the Trade Registrar, preparation of required documents with competent public notary, registration of the company’s official stamp, obtaining statistical number, tax, VAT and customs ID numbers, opening bank account(s) and other administrative activities depending on the specific nature of your business operations.
Accounting services
Lucidio can maintain your local accounting records in accordance with international accounting standards to comply with local regulations, but at the same time we understand that international companies have consolidation requirements that require financial and accounting data to be provided in specific formats with different aggregation levels to your internal service center(s).
We can also assist with the preparation of annual financial statements, corporate income tax return and VAT calculations as well as assist in preparation transfer pricing policies..
Payroll services
We offer payroll services to local companies but also to international companies that have employees working remotely from Bulgaria. Employees working remotely from Bulgaria can easily be put on the payroll in other EU countries but the fact that they are based in Bulgaria means they are subject to Bulgarian tax and social security laws. It is no requirement that employees are employed through a local company, the foreign entity can have direct employment contracts with Bulgarian employees, but will need to register with Bulgaria tax departments to be in a position to comply with tax and social security laws.
For the payment of local taxes and social securities for the Bulgarian employees we offer a service whereby we process the payments to the government accounts through local accounts in order to make use of the specific forms available with local banks which include detail filing data. This is only available with Bulgarian banks.
If you are not comfortable with using Lucidio bank accounts we can also assist in opening local bank accounts for your company. Do however allow for time in your operational planning in this case.
For the payroll services Lucidio will take care of:
- Preparing employees’ payroll slips for your review, including calculation of salaries, contributions for social insurance, health insurance, vouchers and wage tax
- Preparation of payment orders related to the salaries, taxes and social security charges
- Preparing and filing monthly and annual salary returns
- Registration/deregistration of employees with relevant local institutions
If you have any special requirements with regards to the payroll process and/or reporting this is off course possible and we will gladly work with you in this respect.
VAT Administration
Either in combination with the accounting services or as a stand-alone service, Lucidio can assist with the preparation of books of ingoing and outgoing invoices, preparation and filing VAT returns, coordinate communication with the VAT tax department and support during VAT inspections.
Questions?
If you have any questions please do not hesitate to reach out to us via e-mail: questions@lucidio.solutions
