Representative expenses On representative expenses such as; dinners, gifts, cloths, food and drinks, a tax of 10% has to be paid. The expense is, together with the paid tax, deducted from the companies’ taxable income. The VAT on these expenses cannot be offset nor claimed. The tax is due up to the 15th of the […]
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Per the 1st of January 2011 the amendments on Law on Income Tax of Individuals are in effect. The amendments have been published in the State Gazette (Държавен вестник) number 94, 30/11/2010. The law affects companies paying rent to physical persons. As of the 1st of January 2011, companies who pay rent to physical persons […]
Maternity leave in Bulgaria – отпуск за бременност и раждане To be entitled to maternity leave allowance it is necessary to have worked at least 18 months prior to taking the maternity leave. The allowance is 90% of the average gross salary of the 12 months before taking maternity leave. The period for maternity leave […]
Bulgaria Says No to New EU Taxes Bulgaria has taken a stand against a European Commission proposal for the introduction of new taxes across the European Union, including a financial-transaction levy and a new value added tax. “Bulgaria doesn’t support the introduction of new taxes because it will impose an extra burden on EU citizens […]
Starting Thursday, the minimum monthly wage in Bulgaria grows from BGN 240 to BGN 270 (EUR 137). According to the country’s Finance Minister Simeon Djankov, the minimum wage rise will cost its state budget approximately BGN 15 – 20 M. However, the private sector’s expenses will be much higher, the Dnevnik daily points out. Some […]