Taxation and compliance are key for success (Interview)

Our “Expert Tips” series continues with an interview with Radostin Deyanov – Manager and Attorney at Law at one of the Big Four accounting firms and a key Campus X partner PwC Bulgaria. Let’s get started.

1. Tell us about PwC Bulgaria and your role at the company? What challenges do you solve for your clients?

PricewaterhouseCoopers Bulgaria is part of a multinational professional services network of firms, operating as partnerships under the PwC brand. PwC ranks as the second-largest professional services network in the world and is considered one of the Big Four accounting firms. It operates in 157 countries, 742 locations, with more than 276,000 people.

I am a lawyer and manager in PwC Bulgaria. My field of expertise includes taxation, corporate and contracts, mergers and acquisitions, and regulatory processes.

I have been dealing with various projects helping Bulgarian clients doing business abroad and foreign clients doing business in Bulgaria.

2. What do you love the most about your job?

I love meeting with creative business owners and entrepreneurs who are doing daring and interesting projects.

My clients are my biggest source of inspiration. I love seeing people do great.

My clients are doing a fantastic job. They are the first tier in all the rankings in their businesses. They create extraordinary value, and I am honored to do my part of the job.

3. What are some of the top tips and tricks you would like to share with regard to Bulgarian IT businesses’ finances and taxation in 2021?

The most common advice, which I give to my clients, is to pay more attention to their finance and tax compliance.

It is interesting that sometimes managers give so little care to the finance and taxes of the firm they govern. Taxation and tax compliance are very important topics for each business, and they must be followed strictly.

Poorly conducted tax compliance could result in unpredicted tax assessments which will damage the liquidity of the company.

The more companies invest in tax, the bigger their payback will be.

PwC office at Campus X flexible offices and coworking, Sofia
PwC office at Campus X, Sofia

4. Based on your experience consulting international companies, what would you advise international businesses that are setting up their first office in Bulgaria?