How to Reduce our Taxes With up to 65%?
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 »
Posted in Bulgarian Tax Guide, Questions & Answers, Taxation Tagged Personal Income tax, Personal Income Tax Act, Tax, Tax Services, Tax Services in Bulgaria, Taxation, taxation bulgaria
What Taxes are Due in Case of a Sale or Lease of a Property
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 »
Posted in Bulgarian Tax Guide, Taxation Tagged Tax, Tax Services, Tax Services in Bulgaria, Taxation, taxation bulgaria
The Tax on Financial Transactions is Expected to be Introduced in Eleven EU Countries
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 »
Posted in Bulgarian Tax Guide, Doing Business in Bulgaria, Taxation Tagged business in Bulgaria, Tax, Tax Services, Taxation, taxation bulgaria
Five Years of Flat Tax Rate in Bulgaria – Part I
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 »
Posted in Bulgarian Tax Guide, Doing Business in Bulgaria, Taxation Tagged business in Bulgaria, Consulting, Corporate Income Tax Act, Personal Income Tax Act, Tax, Tax Services, Tax Services in Bulgaria, taxation bulgaria
The Specifics of the New VAT Regulation for Member States Presented by the EU – Part III
The Specifics of the New VAT Regulation for Member States Presented by the EU – Part I
The Specifics of the New VAT Regulation for Member States Presented by the EU – Part II
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 »
Posted in Doing Business in Bulgaria, Outsourcing, Questions & Answers, Taxation Tagged Consulting, Corporate Income Tax Act, GDP, Tax Services, Tax Services in Bulgaria, taxation bulgaria, Value Added Tax, VAT
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