Bulgaria VAT changes
- Oct 22, 2016 | Richard Asquith
The Bulgarian Ministry of Finance has issued a number of proposed changes to the Value Added Tax regime. These include:
- New guidance on issuing credit notes on advances and deregistered VAT payers
- Extending the tour operator margin scheme to single tourist service supplies
- Changes in the time of supply rules of goods supplied under lease agreements
- Contributions made by partners in a informal consortium shall not constitute a taxable supply. The supplying party may still deduct any input VAT and make a corresponding VAT credit
- Changes in the rules on deductibility of input VAT on partial-exempt real estate
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Researching Bulgarian VAT legislation is the first step to understanding your VAT compliance needs. Avalara has a range of solutions that can help your business depending on where and how you trade.