1st European International Ltd Agency reminds all its clients, who have registered companies in Bulgaria in 2006 that they are subject to annual balancing in connection with the regulations of the Corporate Income Taxation Act. The financial year is considered from 01.01 to 31.12 and the tax return should be submitted no later than 31.03. The taxes must be paid within a period of 15 days as of the date of submitting the tax return. Your company, operational or not during the tax period, must submit a tax return. The fine for failure to fulfil this obligation is 2500 lv. You, as Managers or shareholders (associates) in these companies, are personally responsible to make sure these documents are submitted on time to the respective tax authorities and offices.