Bulgaria: Tax administrative measures, VAT amendments effective 1 January 2021
Bulgaria: Tax administrative measures, VAT amendments
The KPMG member firm in Bulgaria has prepared a report that briefly summarizes amendments to the tax and social insurance and value added tax (VAT) laws.
The following changes generally have an effective date of 1 January 2021:
- Repeal of interest imposed for a late provision of reason to apply an income tax treaty to address double taxation, and instead replace the interest assessment with penalties
- Concerning overpaid amounts of tax (per a tax return), a new method allows these overpayments to be applied to other tax liabilities of the taxpayer
- Rules concerning electronic documents, and on proof and delivery of notifications electronically
- Special rules during tax inspections for proving facts that are outside the country and for proving market prices
- Changes related to the statute of limitations
- Rules for control over goods with “high fiscal risk”
- Expanded competence of certain offices of the tax agency for operating across the whole country
- Appointment of a temporary or special representative of legal entities against which proceedings have been instituted under the tax and social insurance procedure code
- Expanded authority of the tax agency
- Increased penalties for non-cooperation and new penalties for non-compliance with the obligation for recordkeeping
Read a December 2020 report [PDF 135 KB] prepared by the KPMG member firm in Bulgaria
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