Option for import VAT payment postponement 1 January 2024
Bulgaria is the latest EU member state to offer taxpayers the option to bypass the obligation to pay import VAT at the point of clearing goods into the country. Instead, they can make the payment by the 16th of the month following the date of import. This enables them to avoid the cash flow payment of import VAT.
There are a number of associated requirements:
- The taxpayer must apply for a certified importer with the Union customs
- They must have obtained an associated ID
- They must also have a permits from Customs
The changes to the VAT Act were included in Decree 227, gazetted on 22 December 2023.