Potential early ending to temporary VAT rate cut introduced at height of COVID pandemic Bulgaria is looking to bolster it’s finances with a range of tax changes, including ending from 1 July 2023 a temporary reduction in VAT rate on catering and restaurant services, as
Bulgaria allows for VAT invoice bad debt relief to fall into line with EU Following a September 2022 public consultation, Bulgaria has amended its VAT Act to provide relief on VAT remitted to the tax authorities for sales invoices which subsequently are not settled by
Cuts to newspapers, hotels and basic foods Bulgaria has gazetted various changes to the VAT Act to cut rates permanently and temporarily on a range of supplies. VAT rate changes The updates include: Newspapers and journals are reduced from 22% standard rate to the 9%
VAT compliance and reporting rules in Bulgaria Below is summary of the major rules provided under Bulgarian VAT rules (VAT Act of 2007; Regulation for the Application of the VAT Act), plus adoption of EU VAT Directive provisions. Check our country VAT guides for other
EU Council approves doubling of annual threshold for VAT compliance from 1 January 2023 The Council of the European Council has agreed to the Bulgarian plan to double the annual VAT registration threshold from 1 January 2023. It will rise from the current BGN 50,000
Raised reporting threshold for intra-community supplies reporting Bulgaria is the first EU country to announce an annual uplifting of its reporting threshold for Intrastat, the EU-wide reporting regime for intra-movement of goods. Only taxpayers exceeding these thresholds of shipping goods between EU states are obliged
Doubling of annual threshold for VAT compliance from 1 January 2023 The Bulgarian parliament has agreed to double the annual VAT registration threshold from 1 January 2023. It will rise from the current BGN 50,000 (approx. €25,600) to BGN 100,000 (approx. €51,300). They estimate that
Temporary tax breaks on domestic fuel and basic foodstuffs as inflation continues rise The Bulgarian government has confirmed a range of emergency VAT rate cuts and rollovers of existing temporary cuts: An extension of the temporary cut to 9% for domestic energy and hearting until
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).
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
