The course " Corporate Finance"
" Practice and legal aspects of corporate taxation in Bulgaria"
Prepared by: Inspected:
Louisa Georgieva Ketipova hon. as. Ivan Kostov
Stream 125, Group 1235
factor. в„– 10113032
Underneath review will be practical and legal areas of the Corporate Tax. Subject to assessment focuses on the analysis of these legal elements. These casings this subject objectively homework argue that the primary aspects of corporate and business tax in Bulgaria happen to be defined in our Corporate Tax (CIT) Regulation on Useful Tax (VAT) and Tax-Insurance Procedure Code (TIPC). В Purpose of the classes is checking the impact of corporate income tax and inspecting the situation of tax legislation by legal aspekti. Za to achieve this aim, a few fundamental tasks: вЂў consideration from the corporate tax from a theoretical viewpoint to explain the fact; вЂў Evaluation of existing legislation near your vicinity to duty corporate profits / cash flow /; В В В В В В В В В В В В вЂў displaying the key conclusions and making recommendations
Character of Income Tax
The taxes is nonrefundable and free (no direct counterpart tax) payment imposed unilaterally with a general form of state price range revenue component, which as well as other earnings is allocated to meet general public needs. A particular group of things or folks (real estate, vehicles, profits etc .. ) And in the absence of voluntary payment is definitely collected from the property of forced people. In modern tax system objects of taxation are mainly three -- property, income and acceleration / goods and services /. As in the past, taxes on a mass scale will be implemented, direct taxes will be represented by such property. Nowadays fiscal importance of house taxes is negligible so that it can be said that direct taxes today are generally from taxes. Typical pertaining to income taxes is that they are subject matter and on oblaganerealizirani or attained income. With all the development of commodity-money relations salary, becomes a sign of financial strength and solvency. As a result taxation redirected its key attention to the income from your property, since that profits is the most suitable В¬-based taxation.
Taxable persons are:
1 . Local organizations;
2 . Chuzhdestrannite entities doing business in Bulgaria through a everlasting establishment, personality of home made in a place of organization or acquire income coming from a source in Getaway; 3. Ednolichnite traders and individuals signed up as cigarette producers and farmers to determine taxable income in accordance with Fine art. 26 of the Law upon Income Tax of people - Tax withholding in the event specified inside the Law on Income Tax of people; 4. people - entrepreneurs within the meaning of Skill. 1, pra. 3 of the Commercial Regulation - in the cases specified in the Law on Income Tax of Individuals; a few. employers and clients below management and control -- the taxes on cultural costs provided for in Part Several. В For the purposes on this Act unincorporated associations and insurance cash, established pursuant to fine art. 8 of the Social Secureness Code will be treated because legal folks. For the purposes of taxation of income by a supply in Getaway taxable person is any foreign structurally and economically distinct entity (trust fund, etc . ), which individually carries on business or performs and manages investments in which it can certainly not determine the proprietor income. Legal residents
Local entities happen to be:
1 . Legal entities founded under Bulgarian law;
2 . Companies integrated under Authorities Regulation (EC) в„– 2157/2001 of the Council and cooperatives established below Regulation (EC) в„– 1435/2003 of the Council when they are proven in the country and still have entered into a Bulgarian register. Local agencies are taxed under this law to get profits and income coming from all resources in Bulgaria and in another country.
Foreign legal entities
International entities are those that are certainly not local.
Overseas legal entities are be subject to tax beneath this Change places with...