Could you elaborate? Of course I do have a local accountant, and if what you're saying is true, I am disappointed she didn't mention that; they just said, paying salary will end up being more expensive than dividends.
In the meantime, I clarified in the article that as long as a company is concerned, the article only focuses on the dividends option, and added the link to your comment.
If we take a gross income of 20K BGN (which is not a bad income for a software engineer), then with dividends, net income will be roughly this:
20000*0.9*0.95-710*(0.148+0.05+0.08) = 16902, which means taxes are 15.59%.
20000*0.9-3000*(0.148+0.05+0.08) = 17166, which means taxes are 14.17%. It's lower than dividends, but still far from the 11.5% that you mentioned.
50000*0.9-3000*(0.148+0.05+0.08) = 44166, so the taxes are around 11.67%.
I guess there can be some bonuses which aren't taxed, and this way one could reduce the tax, but paying large bonuses to myself smells too much to me since it's clearly done just to pay less taxes.
It's not one or the other. As a company owner you can use both the dividend and pay yourself a salary.