Bulgaria: National Revenue Agency begins new electronic service
A new electronic service of the tax administration became available on 15th January 2015. The service permits companies and individuals to file tax returns and tax compliance documents through the National Revenue Agency (NRA)’s website by using a
See MoreBulgaria: Summary of tax amendments that apply from 2015
On 9 January 2015 the Finance Ministry published a summary of amendments to the tax legislation that are effective from 1st January 2015. The amendments include the following major tax changes: Personal income tax Introduction of a new tax relief
See MoreBulgaria: Budget for the year 2015 adopts
The Bulgarian parliament has adopted the Budget Bill on 19th December 2014 for the year 2015 and this Bill applies as from 1st January 2015. It gives a tax increment on bank deposits from 8% to 10%. Additionally, the Bill continues the same social
See MoreNorway & Bulgaria: DTA ratified by Norway
Norway has ratified the Bulgaria - Norway Income Tax Treaty of 2014 on 4 December 2014. The new treaty will replace the Bulgaria - Norway Income and Capital Tax Treaty (1988) as soon as it enters into force and is effective in both
See MoreBulgaria: Key changes to the tax and social security legislation for 2015
The amendments to the VAT law was released in the State Gazette on 19th December 2014. The National Revenue Agency (NRA) introduced a new electronic services. This is a new opportunity declaring for both corporate and personal taxpayers. It allows
See MoreUS And Bulgaria Sign FATCA Deal
An intergovernmental agreement (IGA) for the implementation of the Foreign Account Tax Compliance Act (FATCA) requirements was signed between Bulgaria and the United States on December 9, 2014. Bulgaria has formally signed up to the US FATCA rules
See MoreBulgaria: New Government break on flat tax
A high level member of Bulgaria's new coalition Government has said that his alternative Party will oppose the Government's plans to retain the country's flat tax regime. The Deputy Prime Minister for Labor and Social Policy and his left-wing
See MoreBulgaria: Ministry of Finance warns on Budget
Recently, Interim Finance Minister has said that a revised budget in Bulgaria is unavoidable following an under performance in revenue collection, and that efforts would be prepared to increase revenue from VAT and excise duty. The Finance
See MoreBulgaria: Amendments in CIT, VAT and social security
The Budgetary and Finance Commission of the parliament is currently discussing some amendments in corporate income tax, VAT and social security sectors those will be planned for voting by the parliament. Bulgaria will take advantage from the
See MoreBulgaria – Norway DTA signed
The Bulgarian Ministry of Finance confirmed that a new Double Taxation Agreement (DTA) have signed between Bulgaria and Norway on July 22,
See MoreBulgaria-Norway DTT signed
The new Income and Capital Tax Treaty between Bulgaria and Norway has signed on July 22, 2014. This new treaty will replace the Bulgaria - Norway Income and Capital Tax Treaty (1988). Details of the new treaty will be reported
See MoreBulgaria’s Cabinet approves the signing of a new DTA with Romania
Bulgaria’s Cabinet has agreed to a proposal to amend the double taxation agreement (DTA) with Romania, to apply in place of the current DTA that was signed in 1994. The Cabinet has authorized the Finance Minister to negotiate the new DTA. This
See MoreBulgaria’s Finance Ministry to draft Tax Fraud Prevention Strategy
Bulgaria is to produce a tax fraud prevention strategy. The Finance Ministry is combining its efforts with those of other government control authorities to look at the most effective strategies for combating illegal behavior. The new rules will be
See MoreRevision to treaty between India and Bulgaria
Bulgaria’s Ministry of Finance has been authorized to begin negotiations for a double tax treaty with India. After it has been signed and has entered into force the new treaty will replace the current treaty signed in
See MoreBulgaria: Information regarding Transfer Pricing Documentation
An Appendix 4 has been added to the return in accordance with commencing on the tax return for 2013, to be used by taxpayers to report related party transactions and transactions with entities situated in a jurisdiction with a preferential tax
See MoreBulgarian government will maintain low rates of direct taxes
On February 11, 2014, a forum entitled: Government-Business: Economic Restart National Forum: was organized at the initiative of the Bulgarian Prime Minister. The forum was organized in four different panels that discussed the following
See MoreBulgaria confirms that it will keep its 20% VAT rate
The government of Bulgaria has confirmed that it will keep its 20% VAT rate for the foreseeable future as part of its flat tax policy. Bulgaria has one of the lowest VAT rates in the region. Some other countries in central Europe have been
See MoreBulgarian Government approved the signing of a DTA with Norway
The Bulgarian Council of Ministers approved the signing of a double tax agreement (DTA) between Bulgaria and Norway on 19 February 2014. Once signed, in force and effective, the new treaty will replace the Bulgaria - Norway Income and Capital Tax
See More