Bulgaria: VAT registration changes for non-legal entities
Following the adoption of various VAT amendments, the Revenue Agency has published a notification on 11th January 2017 regarding the obligation for non-legal entities to register for VAT if at least one partner is registered under Bulgarian law.
See MoreBulgaria: Updated list of tax havens published
The Finance Ministry has published an Order No. ZMF-1303 on 21st December 2016 regarding an updated tax haven list. This list applies from 29th December 2016 contains the following countries: Antigua and Barbuda, the Bahamas, Brunei, Christmas
See MoreBulgaria: Amendments to Excise Duties and Tax Warehouses Act gazetted
The amendments to the Excise Duties and Tax Warehouses Act (EDTWA) have been gazetted on 6th December 2016. An overview of the amendments is given below: Administrative simplifications of various procedures Starting from 1st January 2017, a
See MoreBulgaria: Amendments to Personal Income Tax Act has been gazetted
The amendments to the Personal Income Tax Act has been published in the Official Gazette on 6th December 2016 and it will apply from 1st January
See MoreBulgaria: Amendments to VAT has been gazetted
The amendments to the Value Added Tax (VAT) Act has been published in the State Gazette on 6th December 2016. This amendments will be applicable from 1st January 2017. The most important amendments are summarized below: New rules for input VAT
See MoreBulgaria: Amendments to Corporate Income Tax Act has been published
The amendments to the Corporate Income Tax (CIT) Act has been published in the State Gazette on 6th December 2016. The parliament voted on the adoption of amendments to the corporate income tax reporting rules on 23rd November 2016. The most
See MoreBulgaria: Amendments to Local Taxes and Duties Act gazetted
The amendments to the Local Taxes and Excise Duties Act have been gazetted on 6th December 2016 in the Official Gazette. The proposal of a tax bill has been submitted to the National Assembly on 17th October 2016 to amend various tax
See MoreBulgaria: Transfer pricing regulations
Bulgaria fully follows and applies the OECD Transfer Pricing (TP) guidelines and has had robust TP rules for several years, but taxpayers must be concerned about the regulations. The TP rules were first announced in the Corporate Income Tax Act
See MoreBulgaria: New rules on electronic filing and filing of corrective returns
The parliament voted on the adoption of amendments to the corporate and personal income tax reporting rules on 23rd November 2016, which was proposed on 16th September 2016. Some changes have gone through during the parliamentary discussion before
See MoreBulgaria: Proposal to keep health insurance contribution rate at 8% for 2017
The Bulgarian Council of Ministers has submitted a proposal to the National Assembly on 31st October 2016 concerning the Act on the budget of the National Health Insurance Fund for 2017. In accordance with the proposal, the compulsory health
See MoreBulgaria: Tax bill submitted to parliament
The Council of Ministers has submitted a proposal on 17th October 2016 to the National Assembly to amend various tax acts. The amendments are about cash payment changes, excise duty changes, local tax changes and changes to the accountant act that
See MoreBulgaria: Country-by-country reporting
A bill entitled “Bill 602-1-59” has been submitted to the Bulgarian parliament. The Ministry of Finance has published a draft bill on 16th September 2016 regarding the automatic exchange of country-by-country reports (CbCR). As per the draft
See MoreBulgaria: Ownership identification requirement by non-residents with PE
Official Gazette has published a Decree No. 306 on 27th September 2016. The Decree forces non-resident companies along with a permanent establishment (PE) in Bulgaria to reveal the shareholder’s names owning a participation of at least 10% in the
See MoreBulgaria: Draft bill on mandatory electronic filing of tax returns
The Finance Ministry has published a draft modifications to the corporate and personal income tax reporting rules, mandatory electronic filing of corporate and personal income tax returns and simplified rules for filing corrective tax returns on
See MoreSocial Security Agreement between Bulgaria and Montenegro ratified
The Social Security Agreement (2016) between Bulgaria and Montenegro has been ratified by Bulgaria on 26th July 2016, by way of Decree No. 259 that was published in Official Gazette No. 61 of 5 August 2016. Once in force and effective, the new
See MoreBulgaria: Guidelines on submission of financial information published
The National Revenue Agency has published guidelines and instructions on the submission of financial information on 26th May 2016 under the Bulgaria - United States FATCA Model 1B Agreement (2014). The document covers document submission procedures
See MoreBulgaria: Supreme Court of Cassation issues interpretation of tax evasion
The Supreme Court of Cassation of Bulgaria has issued interpretative ruling No. 4 of 2016 regarding criminal misreporting and evasion of tax liabilities on 12th March 2016. It has been determined by the Court that in cases of misreporting and
See MoreBulgaria: Clarification to DTA with UK
The Revenue Agency of Bulgaria issued a clarification on 5 February 2016 regarding the application of the Bulgaria - United Kingdom Income Tax Treaty (2015). The main clarifications include the following: Several types of income that were exempt
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