Tag Archives: VAT

VAT registration of an entity, whose manager has outstanding tax liabilities exceeding 5 000 BGN

It is a common case where the commercial activity of an entity requires VAT registration of a newly established company. However, it would be an obstacle if the manager has outstanding liabilities to the budget exceeding 5,000 BGN (which originate … Continue reading

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What we should mind in case of appeal of a tax administration act?

The Tax-Insurance Procedure Code (TIPC) provides the administrative appeal before the director of “Appeal and tax-insurance practice” department of National Revenue Agency (NRA) as a compulsory instance before the court appeal. The individual administrative acts created by the revenue authorities, like … Continue reading

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VAT in case of commissions paid on Booking.com by a non-VAT-registered Bulgarian company

Many Bulgarian companies use the services of Booking.com to sell their hotel and guest house accommodation services. Some of these companies are small and are not registered under the Bulgarian Value Added Tax Act (VATA). Booking.com is a foreign company, … Continue reading

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What are the complications associated with the VAT “cash accounting” regime?

Since the beginning of 2014, the Value Added Tax Act (VATA) introduced an alternative VAT treatment regime– i.e. “cash accounting” regime. In a few words, this regime allows the supplier to pay VAT to the budget only following receiving the … Continue reading

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How a “loan” can become an “income with VAT”?

During tax audits the way the company activities were financed is often reviewed. Borrowed funds, which were used to finance the company, are covered by loans and additional financing (regardless of the legal form, we will treat them as “loans”). … Continue reading

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