“Weekend tax”: more responsible businesses
At the 2016 KPMG Business Seminar for clients, Ivan Vargoulev, Director, Tax, KPMG in Bulgaria, discussed the rules for taxation of private uses of business assets which gained popularity as the “weekend tax”.
The revenue administration has indicated that it would accept more flexible approaches and would allow businesses to determine their own appropriate methods for allocation between private and business uses of company assets. Automating the process through making use of the existing business controls is the key to the effective administration of the process. See a summary in the video (in Bulgarian).
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