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
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
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
