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Bulgaria VAT changes


Bulgaria VAT changes

The Bulgarian VAT Act is to be updated with the following to bring it into line with the EU VAT Directive and recent European Court of Justice rulings.

The proposed amendments include:

  • Guidance on VAT rules where agents are incurring VAT for transactions on behalf of related parties
  • Update on exemptions from VAT for taxable supplies
  • International transport, bringing the Act into line with the EU VAT Directive
  • New pro-rate calculation for input VAT calculations on mixed-use real estate
  • New rules on criteria of financial leases subject to VAT
  • Guidance on VAT registrations for unincorporated trade associations
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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.