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Bulgaria: New VAT measures effective in 2018

Bulgaria: New VAT measures effective in 2018

Changes to the value added tax (VAT) law, published in the state gazette No. 97 (5 December 2017), generally are effective beginning 1 January 2018.

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Among the new VAT measures are the following items.

  • The deadline for submitting an application for VAT registration is shortened from 14 days to seven days.
  • An application for mandatory VAT registration must be submitted when taxable turnover of BGN 50,000 (approximately €25,500) is reached for a period not exceeding two consecutive months. The application must be submitted within seven days from the date when the amount of turnover exceeds the threshold amount.
  • Existing provisions concerning collateral supplied when a VAT registration is denied and applications for VAT de-registration in instances of dissolution of a legal entity (without liquidation) are repealed.

 

Read a December 2017 report prepared by the KPMG member firm in Bulgaria

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