WHILE the deadline for filing tax returns under the Personal Income Taxation act expires today (April 15), tax authorities have announced that now all firms and individuals could pay their taxes online.
The tax authorities said that declarations should be submitted even if the annual income for 2004 is below the tax-exempt minimum of 1440 leva. Those failing to submit their tax returns by April 15 may be fined up to 500 leva. Fines for tax evasion are up to 1000 leva.
Income taxes due must be paid within a 30-day deadline after the submission of the tax return. All necessary papers proving any taxes paid in advance or donations made have to be enclosed. A 10 per cent deduction from annual income is allowed in cases of donations to educational or health establishments, organisations supporting disabled people, the Bulgarian Red Cross, those who have suffered natural disasters, support for the socially handicapped, disabled or orphaned people, cultural institutions and others.
Under the law, 10 per cent of incomes may be deducted in the event of voluntarily paid additional pension or health premiums and life insurance premiums.
Firms and individuals in Bulgaria are now able to pay their taxes via internet through the website of the Chief Tax Directorate at www.taxadmin.minfin.bg.
For maximum security, the service is only available to holders of an electronic signature certificate.
Taxes and fees can be paid without such a certificate, using a bank card. Interest in this has been expressed by all large Bulgarian banks, said Krum Gurkov, head of the Information Systems department of the National Revenue Agency.
Gurkov expressed hope that the new system will become a standard for communication between the banks and the administration.
Currently taxes can be paid only by means of a debit card through the ePay system. The new service is convenient for the companies that pay big amounts for VAT, excise duty or corporate tax from their payment accounts.
The service will be pilot-launched for customers of United Bulgarian Bank, which has developed the system together with the tax authorities.