Bulgaria brings Intrastat reporting into line with EU
- European News
- 7 February 2012 | Richard Asquith
As part of its assimilation of the European Union VAT Directive (law), Bulgaria has published new guidance for the Intrastat declarations.
Intrastat is the monthly declarations which EU VAT registered business use to report the movement of goods across EU frontiers. It enables governments and customs authorities to track trade between EU member states.
The update to the Bulgarian disclosure requirements include:
- the reporting deadline is now the same date as the VAT filing deadline, the 14th of the month following the month of the transactions
- penalties for not submitted Intrastat declarations have been increased
- non-VAT registered businesses will no longer have to submit declarations
- the corrections of errors or omission has now been set at six months instead of the current three months.
If you would like to learn more about EU Intrastat, please read our briefing.
If you would like to learn more about this subject, please read our Intrastat briefing.