New measures in Bulgaria, concerning excise tax and tax warehouses, will be effective 1 January 2016.
Among the provisions are new definitions for terms such as “licensed warehousekeeper”, “specialized small distillery”, “ethers derived from bioethanol”, “legally and economically independent specialized small distillery site”, “energy from renewable sources”, “unsettled public liabilities”, “majority partner or shareholder”.
In general, the new provisions aim at strengthening administrative control in instances when there is an ownership transfer of excise duty (tax) goods within a tax warehouse. When such transactions do not constitute a “release for consumption,” there will be a requirement to file a notification with the tax authority at a date that is three days prior to the transfer of ownership.
Read a December 2015 report prepared by the KPMG member firm in Bulgaria: Amendments to the Excise Duty and Tax Warehouses Act
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