Draft amendments to the Bulgarian value added tax (VAT) law concern the “mixed use” (business and private use) of company vehicles and immovable property. In light of the draft changes, businesses could encounter certain challenges and may want to consider certain steps to prepare for these changes.
The new rules to be introduced in the VAT law, to be effective in 2016, refer mainly to purchases of vehicles and immovable property. The amendments proposed by the Ministry of Finance in relation to the mixed use of company assets would include:
Read a November 2015 report prepared by the KPMG member firm in Bulgaria: Tax amendments regarding the usage and the disclosure of assets with mixed business and private use
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