Do I Have to Declare Stock Gains to the NRA?

You have sold shares at a profit (or a loss) and the question is unavoidable: do you even need to touch the annual tax return? The answer is not simply "yes" or "no" — it depends on the type of income, the market, and whether there is anything to pay. This article lays out the logic as we understand it as of 2026, so you know what to expect.

⚠️ This is educational material, not tax or investment advice. Tax rules change and depend on the specific case. Verify everything with the National Revenue Agency (NRA) (opens in new tab) or a licensed tax adviser before you declare anything or make a decision.

"Taxable" and "subject to declaration" are not the same

This is the most important distinction, and it is exactly what confuses people. A given income can be:

• non-taxable but still reportable — you do not owe tax, but the NRA may still want you to show it on the return;
• taxable and subject to declaration — you owe tax and you declare it;
• outside the scope — neither of these.

That is, "I do not owe tax" does not automatically mean "I do not declare." The exemption of the gain from a regulated EU/EEA market (see capital gains tax on shares) is for the tax itself. Whether such income still has to be reported somewhere on the return is a separate question that you check with the NRA (opens in new tab).

When an obligation is more likely to arise

A rough guide (to verify, not an exhaustive list):

You can see the pattern: wherever the tax has not been withheld by someone else, the responsibility to declare it is usually yours. The specific differences between the two asset classes are covered in tax on ETFs and cryptocurrencies and the tax on dividends.

The annual return under ZDDFL, and the deadlines

Personal income tax is reported with an annual tax return for the previous calendar year. As a rough guide, the filing window is in the first months of the year (typically between the start of the year and the end of April) — but the exact dates are announced each year by the NRA (opens in new tab), so check them there rather than relying on memory.

Filing electronically (with a PIK — personal identification code — or an electronic signature) is usually the most convenient and sometimes carries a discount for early filing — again, something to check for the specific year.

How to calculate what you might owe

Even when you know you have to declare, it is good to have a sense of the number in advance. The arithmetic is the same as for any capital gain:

Tax due = (sale price − purchase price) × quantity × tax rate

• If the result in the parentheses is negative, that is a loss — it does not create tax.
• The rate depends on the case: 0% for a regulated EU/EEA market, around 10% for the taxable cases.

Example: you sell 100 shares bought at €100, at a price of €150. The gross gain is €5,000. In a taxable case at 10% the tax due is €500. On a regulated EU/EEA market — €0, but still check whether the income is reported.

Calculate your own case in the stock-gains tax calculator — switch the mode between "a regulated market (EU/EEA)" and "another market" to see both outcomes.

What about losses?

A loss in itself is not taxed. Whether and how losses from one trade can be offset against gains from others within the year is a separate question with its own rules and limits. This is a classic moment where it is worth asking the NRA or a consultant, rather than assuming — the wrong direction here can mean either overpaid tax or a missed obligation.

A practical routine that saves you a March panic

• Keep records year-round. The date, quantity, purchase and sale price, market, currency, commissions. Your broker statements are your best friend.
• Distinguish the types of income. Dividends, capital gains from stocks/ETFs, crypto — different lines, different regimes.
• Do not wait until the last day. The window is several months; filing early removes the stress and sometimes carries a discount.
• When in doubt — ask the source. The NRA (opens in new tab) has guidance and an information line; a consultant costs less than a fine or overpaid tax.

Example: a mixed year

The most realistic case is not "just one thing," but a combination. Say that for the year you have:

The lesson: even when a large part of your income is exempt, the presence of just one taxable line (here the crypto gain) is usually enough to give you something to declare. That is why it is sensible to look at the whole year at once, rather than each asset separately.

Pay attention also to the direction of the error: a missed declaration of taxable income carries the risk of interest and penalties, while needless worry over exempt income simply eats your time. Both are cured with a single check with the NRA (opens in new tab).

Step by step (the general order)

1. Gather the documents — annual statements from every broker and exchange, records of dividends and withheld taxes.
2. Split the income by type — regulated EU/EEA, another market, crypto, dividends (domestic and foreign).
3. Calculate the taxable lines — for the taxable cases use the formula above or the capital-gains tax calculator.
4. Fill in the return — according to the form and guidance of the NRA (opens in new tab) for the relevant year.
5. File and pay within the deadline — electronic is fastest; check whether there is a discount for early filing.

Are you a tax resident?

The rules above mainly concern resident individuals (tax residents of Bulgaria). If you spend long periods abroad, work across borders, or your center of vital interests is elsewhere, your residency may turn out to be different — and with it the whole tax picture. This is the first question a consultant would ask you, and a good reason not to copy other people's cases as your own.

Common mistakes

• "My gain is exempt, so I touch nothing." The exemption is for the tax; reporting is a separate question.
• Mixing dividends and capital gains on one line — different regimes, a different place on the return.
• A lack of records for the purchase price — without it the entire proceeds can look like a gain.
• Waiting until the last day — technical problems on the peak days are entirely real.

What this does NOT mean

• It is not personal advice and it is not exhaustive. Your specific obligations depend on the type of income, your residency, the amounts, and the current Personal Income Tax Act (ZDDFL).
• The deadlines change. Always check the year and the dates with the NRA (opens in new tab).
• "0% tax" ≠ "nothing to do." The exemption is for the tax, not necessarily for the reporting on the return.

Sources

• NRA — the National Revenue Agency (opens in new tab) — the annual tax return under ZDDFL, current deadlines, filing methods, and guidance for declaring income from stocks, dividends, and other capital gains.

Continue reading

• Capital gains tax on shares in Bulgaria — when the gain is exempt and when it is taxed.
• Dividend tax in Bulgaria — why dividends are a separate regime.
• Tax on ETFs and cryptocurrencies in Bulgaria — specifics for the two asset classes.
• Investing for beginners — the context around taxes and the first steps.

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