VAT News

Bulgaria Target Reduction to EU VAT Gap

Currently both resident and non-resident businesses operating in Bulgaria must register for VAT once they exceed BGN 50,000 (£22,000) in taxable supplies within a year.

However the recent amendments, which are set to be implemented as of January 1st 2020, will see non-resident taxpayers be obliged to register for VAT as soon as they make their first taxable supply to Bulgaria. regardless of the transaction value. It is worth noting however, supplies which are subject to a reverse charge are specifically exempt from the new rule.

These changes for non-resident taxpayers are part of the European Union's wider initiative to reduce VAT fraud across the EU and therefore reducing the ‘VAT Gap’

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