Parliamentary Committee Approves VAT Law Amendments to Ease Small Business Tax Burden and Align with EU Rules

• The Budget and Finance Committee of the Bulgarian Parliament approved amendments to the VAT Act at first reading.
• The changes aim to align with EU requirements and reduce administrative burdens.
• The bill introduces special VAT regimes for small enterprises, both domestic and from other EU member states.
• Small businesses with annual turnover below €51,130 in Bulgaria or €100,000 in the EU can benefit from simplified VAT obligations.
• The amendments clarify turnover calculation rules and change the place of supply for certain online services, following an EU directive.

Source: bta.bg

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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