Bulgaria submits proposal to amends the TP documentation threshold

13 November, 2019

On 12 November 2019, some of policy makers submitted to Parliament a proposal to amend the rules on thresholds for the Transfer Pricing (TP) documentation rules. It is proposed that the obligation to prepare such documents will not apply to persons

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Bulgaria: Council of Ministers approves the Budget for 2020

10 November, 2019

On 31 October 2019, the Council of Ministers approved the draft budget for 2020 and submitted it to the National Assembly for final approval. The draft budget includes the following measures: Procedures to improve the business environment and

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Bulgaria: Draft bill on cross-border arrangements submits for public comment

24 October, 2019

Recently, the Bulgarian Ministry of Finance issued a draft bill and submitted it for public comment. The draft law transposing the provisions of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning

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Bulgaria: Draft Law on implementation of hybrid mismatch and exit tax measures submits to NA

21 October, 2019

On 9 October 2019, a draft Law on “Amendment and Supplementation of the Corporate Income Tax Act” was presented to the National Assembly (NA). The bill proposes provisions transposing the exit taxation measures of the EU Anti-Tax Avoidance

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Bulgaria modifies the CFC Rules

18 August, 2019

The recently published Bulgarian Law amending and supplementing the Tax and Social Security Act includes some modifications and explanations of the rules for Controlled Foreign Companies (CFC), which were introduced with effect from 1 January 2019,

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Bulgaria publishes new mandatory TP documentation requirements

16 August, 2019

On 13 August 2019, amendments to the Tax and Social Security Procedure Code (TSSPC) were published in the State Gazette. The law introduced the mandatory new transfer pricing (TP) documentation requirements in Bulgaria. Documentation

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Bulgaria approves CbC Exchange Agreements with U.S.

10 August, 2019

On 10 July 2019, Bulgaria's Council of Ministers approved two agreements with the United States allowing for the automatic exchange of country-by-country reports. The CbC report is one element of the three-tiered standardized approach to transfer

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Bulgaria approves new mandatory TP documentation requirements

08 August, 2019

On 31 July 2019, the National Assembly approved at second (final) reading amendments to the Tax and Social Security Procedure Code (TSSPC), which introduced the new transfer pricing (TP) documentation requirements. New rules for TP

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Bulgaria: Parliament adopts amendments to TP documentation bill at first-reading

10 June, 2019

On 5 June 2019, the Bulgarian Parliament adopted at first reading amendments to the Tax and Insurance Procedure Code, which introduced the new transfer pricing (TP) documentation requirements. One of the most important changes is in relation to

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Bulgaria increases VAT registration threshold

09 June, 2019

Bulgaria is considering raising its VAT registration threshold. The current threshold will rise from BGN 50,000 to BGN 100,000 sales per annum. The new threshold will effective as from 1 January 2019. In addition, it is proposed a new reduced

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Bulgaria: Council of Ministers approves the proposals of new mandatory documentation rule for transfer pricing

22 May, 2019

On 15 May 2019, the Council of Ministers approved the proposals of the Ministry of Finance to amend the Rules of Procedure on taxes and social security. The amendments concern the introduction of compulsory transfer pricing documentation and the

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Bulgaria: NRA publishes corporate income tax return form for 2018 with barcode

05 February, 2019

On 4 February 2019, the National Revenue Agency (NRA) published the annual tax return under Art. 92 of the CITA for 2018 with BARCODE on the website of NRA. Detailed instructions for downloading, completing and submitting the statement are added to

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Bulgaria includes new CFC rule and updates interest limitation rule 

06 December, 2018

On 27 November 2018, Bulgaria published a Bill on amendment and supplement to the Corporate Income Tax Act in the Official Gazette. The Bill includes a new interest limitation and controlled foreign company (CFC) rules in accordance with the EU

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Bulgaria: MoF proposes new mandatory documentation rule for transfer pricing

21 November, 2018

On 5 November 2018, the Ministry of Finance (MoF) published a draft consultation, proposing new mandatory documents for transfer pricing documentation, and a penalty for failure to comply with up to 1% of the value of undocumented transactions. The

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Bulgaria: Parliament approves budget 2019 at first reading

21 November, 2018

On 7 November 2018, the National Assembly passed the 2019 Budget Act at first reading with 115 MPs in favor and 85 opposed.  The budget proposal containing amendments to the corporate tax laws. The proposed corporate income tax amendments are

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Bulgaria: Council of Ministers approves draft Bill for amending income tax

18 October, 2018

The Council of Ministers approved a draft bill on October 10, 2018 and it have issued by the Finance Minister, Vladislav Goranov, on the Bulgarian Council of Ministers approved the draft bill issued by the Minister of Finance on 30 August 2018. The

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Bulgaria: Consultation on draft Law for implementing EU ATAD

13 September, 2018

The Finance Ministry is consulting on draft legislation for the execution of certain measures of the EU Anti-Tax Avoidance Directive (ATAD). A new interest limitation rule was proposed in this draft Law. This new rule would restrict the amount of

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Bulgaria: NRA publishes 2018 handbook on corporate income tax

01 July, 2018

The National Revenue Agency (NRA) published a 2018 Handbook on June 28, 2018, regarding corporate income tax with revenue administration document. The Handbook is a useful tool for all NRA customers who want to know the nature, scope and features of

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