The tax campaign for 2021 is running with full force – natural and legal persons are preparing for the submission of the annual tax return. As of this year, deadlines have been extended, supposedly trying to apply procedures connected with the epidemic situation and avoiding queues at NRA offices. The closing dates for submission of the annual tax return are as follows:
- The individuals started submitting the declarations under Art. 50 since 11.01.2021, with the deadline being April 30. However, since this year it’s a non-working day, the deadline has been extended to May 5th.
- Legal entities started submitting their declarations from 1 March to 30 June in 2021, reflecting the latest changes in legislation. Here is a reminder that the deadline for paying corporation tax is 30 June.
The following excerpt from the NRA’s official communication reads:
Individuals who received income other than
wages in 2020, such as fees, rents, royalties, transfer of property, cash and object prizes, sole traders, If, however, the persons submit their declaration electronically by 31.03.2021 they can use a discount of 5% but not more than BGN 500.
What is a PIC code?
A PIC code or personal identification code is a 12-digit code that can be issued in any office of the NRA. It gives the NRA clients access to some electronic services without the need to purchase an electronic signature, as well as the queuing. Issuing it is quick and easy, by filling out this declaration.
The submission of the application itself can happen in several ways:
- in person at the NRA office;
- through an authorized person with a notarized power of attorney;
- by mail.
How do I get my PIC code?
However, obtaining the PIC code is done in person. Our advice is to go directly to the NRA office with a filled in declaration and wait for the receipt of your PIC code, as it is issued in minutes.
You can use your PIC code to make the following inquiries:
- Information for insurance income;
- Information on membership in a pension fund and the months for which transfers have been made by the NRA to a universal and / or professional pension fund;
- Information for active employment contract;
- Statement of liabilities;
- Information on the payments made, transferred to the NRA accounts and repaid liabilities with them;
- Statement of liabilities and payments;
- Information under Article 73 of the Personal Income Tax Act for paid income;
- Information on local taxes and fees;
You can also submit the following documents electronically using your PIC code:
- Submitting a request for the issuance of documents;
- Current status of the data declared with Declaration form №1 / form №5 by insurer;
- Current status of the data declared with Declaration form №6 / application for distribution of social security contributions;
- Filing an annual tax return under Art. 50 of the Personal Income Tax Act;
- Submission of declaration form 1 “Data on the insured person”;
- Submission of a declaration form 6 “Data for due installments and tax under Art. 42 of the Personal Income Tax Act ”;
- Declaration under Art. 55, para 1 of the Personal Income Tax Act and Art. 201, para 1 of CITA for due taxes;
- Submission of an application for priority payment of social security contributions
Source: Оfficial NRA Website
As an individual, if you have your personal identification code, you can easily file your tax return online. If you feel unsure that you may not be able to cope with this task, the use of an accounting partner is a very good option, in which you save headaches and wonder which report and which document where exactly should be entered. We acknowledge that the process of filing annual tax returns is a detailed and often frustrating process.
The Finance Grid team is well acquainted with the internal system of the NRA for both individuals and legal entities. By providing a PIC code, we can quickly and conveniently file the annual tax return for you. This saves you not only effort and headaches, but also valuable time that you can use in something more enjoyable. You can take advantage of a free consultation with us by contacting us here or email us at email@example.com.