Speaking your language

We follow technology trends and you can be sure we understand your product

More than just accountants

We will provide you with personal and quality service tailored to you and your business’s needs

Helping your Startup to grow

Focus on your developing business and leave the accounting troubles to us

Bringing clarity out of complexity

We will help you out of the complex accounting net and bring you to safe shores

Who
we are?

We are accountants with vision who will go beyond the number and build successful partnership with you

We are accountants from a new generation who take care not only for your money but also value your time. Do not expect endless phone calls or us bothering you with insignificant details. We know that in order to develop your business you need peace of mind and the opportunity to focus on the important things. You can be sure that your benefit is most important for us and that your finances are in secure hands. We are constantly trying to keep pace with new technologies and you can be sure that we do speak your language.

Some of our
partners include

We will assist you with all of your bookkeeping, accounting and financial reporting needs

One of the most common obstacles that businesses nowadays face is the accurate and timely preparation of VAT returns and management accounts. Bookkeeping is fundamental to this process, however it is regularly overlooked. We assist with all of your bookkeeping, accounting and financial reporting needs. Accurate financial statements are key commercial tool and we are aware that you expect us to understand your business. Bookkeeping & management account services will be delivered by professionals and tailored to your needs. We want strong, longstanding relationship with you and understand that to achieve this we need to provide value as well as an adaptable service. By assisting with your accounting and bookkeeping needs, we will help you in strategic planning, cost control and profit optimisation, efficient tax structures as well as guidance on financing and investment decisions.

We will advise you about your taxes bearing in mind both your benefit and regulation compliance

We provide a full spectrum of tax advice to both physical and juridical persons. We possess the necessary expertise to ensure that you and your business are compliant with all current legislation. From financial statements to corporation tax filings, we support you through the entire process. Our services are tailored around your corporate tax needs, ranging from routine annual compliance to specialist advice for planning and supporting your business strategies. We offer a full compliance service ensuring that you can take full advantage of any tax relief available and keeping in mind your particular sector and business circumstances.

We cover the whole spectrum of payroll services and will provide you with every practical knowledge necessary for a successful relationship with the employees

We offer a comprehensive payroll service including pay slips, employer reports, National Insurance and National Revenue Agency reports, vacation tracking, preparation of all necessary documents for hiring and terminating employees, contractors remuneration, completion of statutory forms including year-end returns and support for compliance visits from statutory authorities. We provide practical advice on day to day enquiries and keep you up to date with changes in law and practice which affect you as an employer.

Calculation and understanding VAT liabilities may seem like a dead-end street but we are here to provide you with the service and advice that best suits your business needs

Our services help you manage and reduce your VAT liabilities. We guide you through these laws to ensure that you are not missing out on claims you are entitled to or making decisions which may leave you open to potential penalties. We provide a range of services from routine compliance to specialist advice to suit your business needs. In addition to providing a comprehensive bookkeeping and VAT accounting service, we can also advise on and help with:

  • The pros and cons of voluntary registration
  • The timing of compulsory registration
  • Extracting maximum benefit from the rules on de-registration
  • Partial exemption
  • Timing and delaying VAT payments
  • Flat rate VAT schemes
  • VAT on imports and exports

We have significant experience in partnering with IT and Tech Startups, we understand their needs and provide them with the most adequate service

Scaling new business and most of all doing it in the right moment could be a daunting challenge for many startup owners. After you have secured the capital, comes the next important step, i.e. deciding what to do with this capital and how to invest it in the wisest manner. You have the option of choosing between developing your product further, starting marketing and branding initiatives, hiring new employees, undertaking other business operations. Significant part of the startups fails due to scaling prematurely and craving for more customers, more users, higher headcount. But there is more to it than that and we are here to advise you and help you find the right timing for your important business steps. We strive to keep up with evolving business models and understand the drivers of modern age tech companies. We are aware which metrics, vital for understanding, measuring and improving your business, you should be monitoring and you can trust us to guide you through the storm of variables.

We can be your mediator to the most beneficial law service

We can provide you with the legal service tailored to your business’ needs. We are partnering with professionals from various legal areas who can consult you, help you out with preparing specific contracts, registering a company, M&A activities. Our partnering lawyers can fully support you and ease your concerns regarding corporate law.

Audit is not meant to be a bothering and scary process and our partners will help you recognize all of its advantages

You can count on us to connect you with experienced professionals who will conduct the auditing and financial analysis in a practical and productive manner, without getting in the way of your day-to-day operations. Our partners will help you define your objectives and the way to achieve them. They will guide you and make sure that your accounts are fully compliant with statutory requirements. They will also help you identify strengths and weaknesses in your business finances and put new ideas into action.

Why Bulgaria?

Bulgaria is showing the ambition to turn into one of the main European outsourcing hubs, especially when it comes to IT and tech companies. The number and the amount of investments in the country have experienced a sharp and steady increase and there can be outlined several main reasons for this:

Sofia Tech Park

The first science and technology park in Bulgaria was introduced at the end of 2015 with the main aim to boost the development of research, innovation and technological capabilities in the country. Built with the significant support from the EU’s European Regional Development Fund, the Tech Park is intended to foster knowledge exchange between academia and business while supporting startups and innovative ideas.

Increasing number of software academies

IT business is the most rapidly developing one in Bulgaria and the significant number of software academies in the country is a yet another proof for this. There is also a Software University that prepares the students for one of the most desired and frankly one of the best paid professions in Bulgaria.

Developing Coworking Communities

Last years in Bulgaria have seen a stable trend of developing the so called coworking office spaces. Those spaces are popular particularly in Sofia and they are quickly winning over the usual office spaces. They have significant advantages especially when it comes to a startup company because they host some of the youngest and most rapidly developing companies in Bulgaria. People in those spaces benefit from working close to like-minded people with whom they are able to exchange ideas, seek for advice and inspiration.

Favorable taxes

Bulgaria has the most favourable tax regime in Europe both in corporate and personal aspect. Furthermore, industries in high-unemployment areas are granted 0% tax rate.

Competitive costs of labor

Bulgaria has also one of the most competitive costs of labor in Central and Eastern Europe which makes it attractive for every outsourcing business. The lowest hourly labor costs among the EU Member States have been recorded in Bulgaria (EUR 4.1). For a comparison, in 2015, average hourly labor costs in the Union were estimated to be EUR 25.0.

Favorable office rents & low cost of utilities

Favorable financial conditions in Bulgaria are rounded up by low office rents and cost of utilities. Bulgarian cost of electricity for industrial users is 70% of the European average.

Business Startups

Bearing in mind the technology bloom and progress of the 21st century and the fact that Bulgaria is turning into the European hub for IT outsourcing companies and investments, Veda-Accounting is tightly specializing into accounting services for IT and Tech Startups. We are partnering with numerous startups and have the opportunity to observe their different and innovative business approach and way of thinking. They inspire us to stay on top of every new technology and in this way to be able to provide them with the most suitable and adequate service.

Here are just a few of the ways we can help you get started:

  • Decide on the most suitable structure for your business
  • Prepare a comprehensive business plan
  • Assess your finance requirements, advise on the best sources of finance
  • Prepare cashflow projections and assessing finance needs
  • Deal with bookkeeping, VAT, and payroll duties
  • Plan your taxes

Our
Clients

Get in touch