Bulgaria new VAT invoice rules

Along with all other EU member states, Bulgaria has passed into legislation the latest EU VAT rules on invoice formats and compliance obligations.  This is based on the 2nd EU VAT Invoice Directive.

The changes to Bulgarian VAT rules are aimed at helping underpin the chargeability and recoverability by parties of VAT both for domestic supplies and intra-community transactions.  In addition, they will help with the smooth transition towards e-invoices.

The Bulgarian changes include:

• the obligation to comply with Bulgarian VAT disclosure rules by any domestic or foreign companies which provide taxable supplies in Bulgaria
• simplified invoices may be used for transactions below the local equivalent of €100
• companies must introduce adequate internal controls to ensure the proper and reliable use of e-invoices.
• any company using electronic invoices must seek the approval of their customers, or continue to offer paper invoices too

The new rules came into place on 1 January 2013 following the passing of the VAT Bill.

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