On 21 November 2019, the Bulgarian parliament approved amendments to the thresholds for mandatory preparation of a local transfer pricing file.
According to the amendments, the obligation to prepare such documents from 1 January 2020 will not apply to persons who have not exceeded at least two of the following thresholds as at 31 December of the previous year:
• BGN 38 million – net book value of assets;
• BGN 76 million- Net sales; and
• Average number of employees during the reporting period is 250 people.
The other rules and limits for mandatory transfer pricing documentation remain unchanged.
