Taxable base can be reduced with up to 65% through donations, if certain conditions are met. Because the incomes of individuals in Bulgaria are taxed with a flat rate of 10%, the due tax can be decreased with up to 65% as well in a case of a donation.
With this regard the National Revenue Agency and the Bulgarian Donative Forum have organized together a joint campaign for donations… Continue reading »
The due tax on sale of property depends on different factors. It is taken into account when the property is acquired and on what grounds (a sale, a donation etc.). The tax amount depends on the type of the property (apartment, land), if the person has sold other properties during the year, etc.
The tax is due only on the difference, which is a result between the price of… Continue reading »
It’s an expectation that eleven out of seventeen EU countries that are part of the Euro zone will accept the proposed tax on financial transactions. The countries are: France, Germany, Belgium, Portugal, Slovenia, Austria, Greece, Italy, Spain, Slovakia and Estonia. This tax aims to increase the public resources and to encourage the responsible trading with financial instruments, to strengthen the united market by reducing divergent national approaches to the taxation… Continue reading »
In two consecutive years, a flat tax of 10% was introduced in Bulgaria. First in 2007 -10% tax on corporate incomes and in 2008 – 10% tax on incomes of individuals. The flat rate can be defined as a positive reform for Bulgaria. In the countries with flat tax rate the economy and the incomes grow significantly faster. The flat tax rate on incomes increases the economic activity, opens new… Continue reading »
For defining the place of supply of services it is necessary for the supplier to establish if the customer is a taxable customer or not. There is a difference between… Continue reading »