Temporary tax breaks on domestic fuel and basic foodstuffs The Bulgarian government has proposed temporarily reducing the Value Added Tax rate on domestic heating and bread. The National Statistical Institute said that Bulgaria’s consumer prices rose by annualised inflation rate of 14.4% (12.4% in March).
Trebling of annual threshold for VAT compliance in two stages by 2024 The Bulgarian Assemble is reviewing a Bill to treble the Value Added Tax Registration in two stages from the current BGN 50,000 (approx. €25,600) as follows: January 2023 to BGN 100,000 (approx. €51,300);
Temporary tax breaks on domestic fuel and basic foodstuffs The Bulgarian government has proposed temporarily reducing the Value Added Tax rate on basic foodstuffs, non-alcholoic drinks; medical products heating electricity and gas. The proposal now moves to Parliament, the National Assembly. The measure could come
Continuing COVID-19 disruption extension of VAT support for key sectors till 31 December 2022 Bulgaria is to extend its cut in VAT for a range of services heavily affected by the continuing coronavirus crisis. The reduction from the standard rate to 9% will continue for
Many businesses taken out of the intra-community reporting requirement Bulgaria has significantly raised the annual reporting thresholds for Intrastat for 2022. Intrastat is EU-wide (usually) monthly reporting regime for businesses to report the movement of goods between EU states. It is split between Arrivals (goods
Live pre-clearance invoicing to help reduce the VAT Gap The Bulgarian National Revenue Agency has opened a public consultation on the implementation of e-invoicing. Any implementation date is unlikely to be before 2023. This follows the successes in Italy, Hungary and plans for Poland and
Bulgaria has started the approval process for an increase in its Value Added Tax registration threshold from BGN 50,000 to BGN 200,000 (about €100,000) per annum. The change could come into effect on 1 January 2022. Check EU VAT registration thresholds via VAT Calc’s live
COVID-19 forces tax support for key sectors Bulgaria is to reassign a range of supplies from the standard VAT rate of 20% to the reduced VAT rate of 9%. This will apply between 1 July 2020 and 31 December 2021. The tax break is designed