VAT Services in Bulgaria
Our aim is to make the VAT services in Bulgaria as simple and hassle-free as possible; we use the Cloud for our accounting and VAT services. You have instant access to all your VAT documentation in one place, accessible from anywhere and on any device. We have optimized all processes for delivering the highest standards of VAT services in Bulgaria.
The Value Added Tax, or VAT, in the European Union is a general, broadly based consumption tax assessed on the value added to goods and services. It applies more or less to all goods and services that are bough and sold for use or consumption in the European Union.
The VAT in Bulgaria is regulated by the Value Added Tax Act (VATA) and the Rules on the Application of the Value Added Tax Act (RAVATA), which implement in the Bulgarian legislation the rules of Directive 2006/112/EO on the common system of value added tax in the EU. The VAT in Bulgaria is at 20% with several exceptions.
Our chartered accountants will assist you to register your company for VAT, report and refund your VAT. The obligation to report and pay VAT arise after registration under VATA. The registration is obligatory or by choice of the interested individual.
When is VAT registration in Bulgaria required?
VAT registration is not required if the turnover in the last twelve months is up to BGN 50 000. However, there is a requirement that if a company provides services to VAT-registered customers from another EU Member State, it must be registered for VAT seven days prior to the service, its invoicing, and payment. If the company is not VAT registered, VAT will be charged on the invoice for purchases from the EU. When a Bulgarian company that is VAT registered carries out transactions with VAT-registered companies in another EU Member State, VAT is not charged. For services from third parties (non-EU Member States), VAT is not due. In the case of transactions with third parties with goods, customs must be passed.
What is the procedure for VAT registration in Bulgaria?
After submitting an application for VAT registration within seven days, the requested documents from the National Revenue Agency must be submitted, which include a turnover statement 12 months before the current one, bank statements at the time of filing the application, contract for using of the address of registration in the Commercial Register of the company, an accounting service contract, and a power of attorney. After submitting all the documents to the NRA, the person is registered for VAT up to seven days.
What happens after the VAT registration?
All purchase invoices, sales invoices, and bank statements must be sent until 10th of the month. The VAT declaration is submitted by the 14th of the following month. Our VAT services in Bulgaria are on the Cloud. All you need to do is to upload your monthly invoices and bank statements to your accounting folder on the Cloud. Once your monthly invoices and bank statements are processed, your monthly VAT declaration will be uploaded to your VAT folder on the Cloud. You will have all important tax and accounting documents in one place.
How VAT can be refunded?
VAT refunds are made three months after the first refund occurs.
Benefits of Using Our Cloud VAT Services in Bulgaria:
- Instant access to your VAT and accounting folders
- Access from anywhere, any device
- Easy tracking of your monthly and annual VAT and accounting
- All-important tax, accounting and VAT documents in one place
- Safe storage of your accounting and VAT documents on the Cloud
VAT rules that may apply when buying property in Bulgaria
If the seller is a physical person, buyer is physical person, no VAT
If the seller is a physical person, buyer is company, no VAT
If seller is a company, VAT is required IF the company registered for VAT, or if property value is over BGN50,000 (€25,510)
If the seller is a company registered for VAT, and the buyer is a company registered for VAT, then the buyer can get VAT refund.
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For more details about our VAT services in Bulgaria, please feel free to contact us.
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