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Are the costs of interest on arrears and penalties to counterparties recognized for tax purposes?

ZKPO regulates when interest and penalty expenses can be recognized or not recognized for tax purposes and to follow a transformation of the financial result.

According to the text of the law:

ZKPO Art. 26. Не се признават за данъчни цели следните счетоводни разходи:

  1. (the ball. – DV, no. 94 from 2012 Mr., effective from 01.01.2013 Mr.) costs of accrued fines, confiscation, включително по чл. 307а от Наказателния кодекс и други санкции за нарушаване на нормативни актове, the interest for arrears of public state or municipal obligations;

To clarify the text related to relations between legal entities, there is an opinion of the National Revenue Agency. Sofia with Ex. №53-02-338.

If the interest (including those for arrears) and the penalties are not related to violations of regulations – they are recognized for tax purposes and no transformation of the financial result follows.

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