Bulgaria implements VAT reverse charge on grain fraud
- European News
- 03 August 2013 | Richard Asquith
The Bulgarian Value Added Tax authorities have declared that they will introduce the VAT reverse charge on the trading of grain in storage. The new VAT policy will apply from 1 October 2013.
EU VAT reverse charge changes
The Bulgarians have detected a high volume of irregular trade, indicating that VAT fraud has moved from mobile phones and carbon emissions in wider commodities. They had sought permission from EU VAT authorities in Brussels last year to implement the nil VAT policy, but had received no response. However, the EU has now formally changed the process for implementing the reverse charge, and the Bulgarians are going ahead.