THE COMPANIES DECLARED RECORD DIVIDENDS FOR OVER BGN 82 MILLION

Nearly BGN 82,5 million have been declared as a dividend paid in the third quarter of 2021, the National Revenue Agency announced. According to the tax authorities, there is a direct link between nearly 1800 checks on the cash availability of companies and the intensive payment of dividends.

The National Revenue Agency reminds that the deadline for submitting the declarations for advance taxes expires on November 1 and until then the tax on the received dividends will be paid at the latest.

In July, the revenue agency launched a mass campaign to check cash levels - the amounts reported as available in the companies’ cash registers.

As part of the inspections, a lack of over BGN 215 million was found in the coffers of 271 companies, another 182 have declared that they will distribute a dividend and will pay the tax due within the deadline.

The inspections of the Revenue Agency continue, whereby the funds available in the cash registers are counted, all denominations are described and compared with those indicated in the accounting.

However, the law allows legal entities to distribute dividends to natural persons - owners, paying the 5% tax due.

The Revenue Agency claims that another visible effect of the control campaign of the tax inspectors is that more and more accounting firms refuse to perform incorrect accounting operations related to cash.