The Deadline for Filing the Annual Tax Return and NSI Report by 30.06.2026 Is Approaching – What Businesses Need to Know
As June 30, 2026 approaches, many companies leave their annual accounting closing procedures until the very last moment. However, this often leads to unnecessary stress, missing documents, delayed submissions, and increased risk of penalties.
By 30.06.2026, many companies in Bulgaria are required to submit:
- Annual Corporate Income Tax Return to the NRA (National Revenue Agency);
- Annual Activity Report to the NSI (National Statistical Institute);
- Annual Financial Statements;
- Declarations for inactive companies, where applicable;
- Additional reports and appendices depending on the company’s activity.
In practice, the final weeks before the deadline are usually when businesses start searching for:
- missing invoices;
- bank statements;
- contracts and annexes;
- cash-related documents;
- asset information;
- balance confirmations;
- dividend payment documentation;
- loan and liability information.
This significantly slows down the annual closing process.
Why It Is Not a Good Idea to Wait Until the Last Week
Annual accounting closing is not just about “submitting a declaration.” Before filing, it is necessary to:
- process all accounting documents;
- review liabilities and receivables;
- perform accounting and tax checks;
- identify missing or duplicated documents;
- review cash balances;
- calculate corporate taxes;
- prepare all required appendices and reports.
When documents are sent at the last minute, there is often not enough time for corrections and clarifications.
This may result in:
- delayed submissions;
- corrective declarations;
- additional tension between the company and the accounting provider;
- risk of incomplete or inaccurate reporting.
What Applies to Companies Without Activity
Many business owners believe that if their company has not operated actively during the year, no reporting obligations exist.
In most cases, this is not entirely correct.
Even inactive companies may still need to submit:
- a declaration of inactivity;
- information to the NSI;
- certain declarations to the NRA depending on the specific circumstances.
It is important to verify:
- whether the company truly qualifies as inactive under Bulgarian legislation;
- whether there were bank transactions;
- whether invoices were issued or received;
- whether there were employment contracts, insurance contributions, or other transactions during the year.
Commonly Overlooked Issues During Annual Closing
In practice, some of the most common issues include:
- discrepancies between bank payments and invoices;
- missing expense documents;
- incorrectly recorded cash transactions;
- omitted filings from previous periods;
- undistributed dividends;
- old liabilities and balances;
- VAT inconsistencies;
- missing documentation for foreign purchases;
- incorrect accounting treatment of personal expenses through the company.
The earlier the preparation begins, the more time there is to identify and correct such issues calmly and properly.
What Businesses Should Prepare in Advance
To ensure a smoother annual closing process, it is advisable to prepare:
- all invoices for 2025;
- bank statements;
- cash balance information;
- contracts and annexes;
- loan documentation;
- information regarding assets and inventory;
- statements of unpaid liabilities;
- dividend-related information;
- foreign purchase documentation;
- information regarding newly started or terminated activities.
Good organization significantly speeds up the process and reduces the risk of mistakes.
Penalties and Risks for Late Submission
Failure to submit reports on time may lead to:
- financial penalties and sanctions;
- additional inspections and audits;
- official notices and requests from institutions;
- complications during future administrative procedures.
Apart from the financial aspect, delays often create unnecessary administrative pressure for businesses themselves.
Proper Preparation Saves Time and Problems
The weeks before June 30 are traditionally among the busiest periods in accounting practice. This is why timely preparation is extremely important.
When documents are provided in an organized and timely manner:
- processing becomes smoother;
- there is enough time for checks and corrections;
- omissions can be avoided;
- communication becomes easier;
- the risk of errors is significantly reduced.
If you have not yet prepared your company’s documents for the annual closing process, now is the right time to begin organizing them.