September 28 2023

Bulgaria Proposes Amendments to Various Tax Acts – Summary

Source: IBFD Tax Research Platform news

As part of the annual package with amendments to the tax legislation, the Ministry of Finance has published the following proposals for public consultation.

  • Corporate income tax:
    • implementing EU rules ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups.
  • Individual income tax:
    • introducing statutory expenses in the case of a sale or exchange of financial assets; and
    • introducing financial incentives for disclosures to tax authorities.
  • Indirect tax:
    • introducing deferred payment of import VAT in the case of centralized clearance;
    • clarifying reporting obligations of payment service providers; and
    • extending the scope of goods subject to excise duties by including products to be heated, vaporized or inhaled.
  • Other taxes:
    • clarifying the tax relief for buildings with certificates of energy consumption class; and
    • implementing EU rules regarding the disclosure of income tax information by certain undertakings.