As of 1st July 2019, Bulgaria is introducing the option for businesses importing certain goods into Bulgaria to use a postponed accounting scheme. This means that qualifying importers will be able to account for the import VAT in the subsequent Bulgarian VAT return via a reverse charge mechanism. Under the [...]
On 12th October 2018, the Bureau of Statistical Information published the following changes to Bulgaria’s Intrastat thresholds, which will come into effect as of 1st January 2019: The dispatches reporting threshold is increased to BGN 280,000 from BGN 260,000; and The arrivals reporting threshold is increased to BGN 460,000 from [...]
On 16 January 2018, the Bulgarian supreme court issued a decision (no. 600/16.01.2018) regarding a case concerning the deduction of VAT in relation to a non-declared acquisition by a Bulgarian company. The taxpayer had purchased spare parts from an Austrian supplier, which declared the supply as an intracommunity despatch. However, [...]
The Intrastat arrivals threshold for 2014 has been increased from BGN 240,000 (approximately EUR 123,000) to BGN 360,000 (approximately EUR 184,000) and the dispatches threshold reduced from BGN 240,000 to BGN 210,000 (approximately EUR 107,000).
The Bulgarian Government has announced measures to ensure the timely repayment of VAT. The measures are aimed at bringing the law in Bulgaria into line with EU VAT rules and should ensure that it is easier and faster to obtain a repayment of VAT in Bulgaria.