Bulgaria VAT changes

Sun 2nd Oct 2016

The Bulgarian VAT Act is to be updated with the following to bring it into line with the EU VAT Directive and recent European Court of Justice rulings.

The proposed amendments include:

  • Guidance on VAT rules where agents are incurring VAT for transactions on behalf of related parties
  • Update on exemptions from VAT for taxable supplies
  • International transport, bringing the Act into line with the EU VAT Directive
  • New pro-rate calculation for input VAT calculations on mixed-use real estate
  • New rules on criteria of financial leases subject to VAT
  • Guidance on VAT registrations for unincorporated trade associations

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