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Bulgaria VAT cash accounting

  • VAT
  • 03 October 2013 | Richard Asquith

Bulgaria VAT cash accounting

Bulgaria plans to introduce a number of changes to the Value Added Tax regime following a number of tax cases, and to further harmonise its tax code with the EU VAT Directive.

The changes include:

  • Introduction of a VAT cash accounting option (instead of accruals-based reporting) for suppliers to pay cash directly to the VAT authorities
  • Introduction of the VAT reverse charge mechanism on the domestic supply of certain crops following the introduction of the EU’s VAT fraud rapid response mechanism in August
  • Guidance for estimating the taxable amount on barter and deemed supply of certain goods.

Once approved, the above changes will come into effect on 1 January 2014.


VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.