Services
Outsourcing is a successful practice, which is ever more popular not only with small and medium enterprises but also with companies who are monopolists or corporations with well established worldwide business activities. The decision to outsource the finance and accounting department, as well as the payroll department leads to minimizing of the remuneration expenses for specialized personnel, optimizes the number of staff, decreases the office space needs and expenses for software and hardware. The companies that have chosen this policy have direct access to highly qualified professionals in the respective sphere and can rely on proven quality and professionalism.
DMS Consult offers a wide spectrum of professional services to local and foreign physical persons and legal entities, which by trusting us have the opportunity to focus entirely on their business, while our dedicated team of professionals is engaged with the full range accounting servicing and payroll administration.
Accounting and tax services
Accounting supervision and assistance
Professional services related to payroll administration
Other professional services
Tax Consultations
Accounting and tax services
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- Processing of accounting documents including:
- processing of purchase and sales invoices, employee advance reports, bank transactions and petty cash operations;
- calculations of one-time taxes, including withholding tax as per the requirements of the Bulgarian legislation.
- Preparation and maintenance of the respective accounting registers, maintaining balance and coordination between them, interim and year-end accounting closing, application of individual chart of accounts;
- Preparation and submission of monthly VAT declarations, VIES declarations, VAT sales and purchase registers as per the requirements of Value Add Tax Act (VAT Act).
- Preparation and submission of registration and reporting forms to the Bulgarian National Bank;
- Preparation and submission of Intrastate declarations, documents or data;
- Preparation and submission of annual tax returns and statistical reports;
- Preparation of annual financial reports under National Accounting Standards and under International Financial Reporting Standards (IFRS);
- Preparation of periodical reports for management purposes.
Accounting supervision and assistance
- Performing the functions of Chief Accountant in respect of an existing internal finance and accounting department;
- Control and analysis of the recorded financial/accounting information;
- Assistance in the preparation of monthly reports;
- Assistance in the preparation of annual financial statements, annual tax return and annual report;
- Consultations and assistance in relation to optimization of the accounting process.
- Assistance in the preparation of annual financial statements, annual tax return and annual report;
- Consultations and assistance in relation to optimization of the accounting process.
Professional services related to payroll administration
- Preparation of payroll;
- Preparation of payment orders, including payment of salaries, social security and health insurance contributions, advance personal income taxes and other payment orders in accordance with the clients’ needs and requirements;
- Payroll agent – offering an option for payroll and social security payments through a specially opened bank account, access to which would be granted only to representatives of DMS Consult, with the aim of keeping strict confidentiality and relieving the client’s management from signing payment orders and keeping deadlines;
- Preparation and submission of declarations for due and paid social security contributions, advance personal income tax in accordance with the labour legislation;
- Preparation and distribution of pay slips to each employee via email or in hard copy;
- Setting and calculation of the annual tax base and annual taxes for each individual employee hired under labour contract and preparation of all documents related to this;
- Registration/deregistration of labour contracts;
- Preparation of documents required for termination of a labour contract;
- Preparation of documents required for payment of compensations and submission of sick leave notes before the National Social Security Institute (NSSI);
- Preparation of employee’s income certificates;
- Preparation of specific reports for management purposes.
Other professional services
- Registration as per Value Add Tax Act;
- Assistance and participation in audits and inspections by the authorities of National Revenue Agency, National Social Security Institute and other state authorities, as well as preparation and submission of the required documents and reports.
Tax Consultations
The accurate and well organized accounting and the timely tax and legal consultations are an important prerequisite for the development of our clients’ business. The wide range of well-selected partners, with whom we work – leading experts in the spheres of local and international legislation, value added tax, customs duties, income tax, consultations related to international transfers and social security issues, allow us to supplement and deepen our knowledge and to improve the quality of the services offered.
