Bulgaria: Government announced several tax relief measures regarding VAT exemption
07 May, 2020
The Government has taken some tax relief measures regarding Value Added Tax (VAT). These are:
On 4 May 2020, a draft Bill was submitted in the Bulgarian Parliament for introducing a 9% reduced VAT rate from 20% rate to support the restaurant and catering sector, badly affected by the COVID-19 outbreak. Also, this Bill proposes this 9% reduced VAT rate for these sectors applied from 1 June 2020 to 31 December 2021.
On 23 April 2020, through Decree № 80, the Council of Ministers adopts the rules of the exemption from import duties and value-added tax on imports of the territory of the country of goods needed to fight against the effects of the COVID-19 pandemic in 2020, carried out by certain individuals.
The Council of Ministers of Bulgaria has approved the signing of the Multilateral Competent Authority Agreement for the Automatic Exchange of Information under the Crypto-Asset Reporting Framework (CARF MCAA) on Wednesday, 13 November 2024. The
The Iraqi Council of Ministers approved the negotiation and signing of an income and capital tax treaty with Bulgaria on 1 October 2024. The council has authorised the Director General of the General Commission for Taxes to initiate discussions
The Bulgarian Ministry of Finance released proposals for amendments to the various tax legislations for public consultation on 18 September 2024. The proposed changes aim to align with European Union (EU) laws and enhance the administration of VAT
Bulgaria’s Council of Ministers approved a letter of intent to join the Multilateral Convention for Implementing the Pillar Two Subject to Tax Rule (STTR MLI) on 11 September 2024. The signing ceremony for the STTR MLI is set to take place on
The OECD released an announcement on 27 August 2024 highlighting that jurisdictions have made further progress in addressing harmful tax practices through the implementation of the international standard under BEPS Action 5. This is evidenced by
Bulgaria published the law for the introduction of the euro in the Official Gazette, on 20 August 2024, paving the way for Bulgaria to shift away from using Lev, in line with EU regulations. The purpose of the law is to supplement and facilitate
