EC Pursues Infringement against Bulgaria on VAT Rules novinite.com The European Commission has issued an official request to Bulgaria to change its VAT legislation in order to ensure equality among entities working within the country and in the EU. Bulgaria has two months to bring laws in line with European Union legislation, after which the Commission will […]
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 […]
VAT in Bulgaria Newly registered companies do not automatically enter the VAT system; your company has neither obligations nor rights concerning VAT in Bulgaria. Registering for VAT becomes compulsory when; Your company has more than 50’000 BGN turnover over the last 12 months. Your company has business outside of Bulgaria. You send invoices to countries […]
Taxation in Bulgaria The overview below is just a summary of the most common taxes and VAT in Bulgaria. For detailed information you can check the websites of the National revenue agency (NRA) and Invest Bulgaria Agency or contact us when you have any further questions. Corporate tax – 10% The taxable profit has to be […]
Bulgarians will work to pay their taxes until May 4, 2011, according to a publication of the Institute for Market Economy. The so-called “Tax Freedom Day” is a symbolic date when employees stop working for the State treasury and begin earning for themselves. In Bulgaria, this day traditionally falls in May, and its earlier arrival […]