Bulgaria deferred import VAT Jul 2019
- Jan 22, 2019 | Richard Asquith
Bulgaria is to introduce a deferred import VAT scheme on 1 July 2019.
Details of the new regime were transposed into the Regulation for the Application of the VAT Act on 8 January 2019. The new system will mean importers of goods into the EU via Bulgaria will no longer be obliged to pay import VAT to clear the goods through Bulgarian customs. Instead, they can report the VAT due through their next Bulgarian VAT return. The import is declared under the reverse charge mechanism, so no cash is required to be paid. The customs authorities may require proof of a live registration at the time of clearance.
19 EU countries already offer import VAT deferment schemes.
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