Increase the minimum threshold of taxable annual turnover for VAT registration from BGN 50,000 to BGN 100,000

The National Assembly decided to increase the minimum threshold of taxable annual turnover for VAT registration from BGN 50,000 to BGN 100,000.

The National Assembly decided to increase the minimum threshold of the taxable annual turnover for VAT registration from BGN 50,000 to BGN 100,000. The Parliament adopted in the second reading changes to the Value Added Tax Law introduced by Martin Dimitrov from “Democratic Bulgaria” and a group members of parliament.

The National Assembly decided that the amendments to the law will enter into force on the first day of the month following the entry into force of the decision of the Council of the European Union to grant permission to Bulgaria to introduce a special derogation measure regarding the general system of value added tax, but not before January 1, 2023. The increase in the threshold also affects the self-employed, explained Martin Dimitrov.

Source parliament.bg