On 6 December 2019, amendments to various tax acts were published in the State Gazette. Amendments to the Tax and Social Security Procedures Code concerning the thresholds for preparation of mandatory transfer pricing documentation are set out below.
More specifically, the obligation for preparation of such documentation will not be applicable for persons that, as at 31 December of the previous year, did not exceed at least two of the following thresholds:
- net book value of assets: BGN 38 million (approximately EUR 19 million);
- net sales revenue: BGN 76 million (approximately EUR 39 million); and
- average number of personnel for the reporting period: 250 persons.
The other rules and thresholds regarding the mandatory transfer pricing documentation remain unchanged.
The above rules will apply from 1 January 2020.