The labour market has demonstrated its first indications for stable improvement and it can be concluded that it is steadily coming out of the recession. Last figures show that unemployment is expected to fall to 8.3% by the end of 2011 compared to 10.3% in 2010. The growing number of [...]
According to the Bulgarian National Institute of Statistics, the Bulgarian GDP is indicating a growth of 3.4% compared to the figures back in March 2010. In addition, the economic growth speed has increased with 0.6% compared to the Q4 2010. These figures turned out to be a big surprise to [...]
Goods purchased and/or services received by the Bulgarian company from local suppliers would be generally subject to 20% VAT chargable by the suppliers. The invoices issued to the Bulgarian company from the Bulgarian suppliers have to be reported in the purchase ledger and VAT return of the Bulgarian company for [...]
In compliance with the COUNCIL DIRECTIVE 2006/112/EC of 28 November 2006 on the common system of value added tax, and art.133 from VATA “Registration of foreign person, who is not settled in the state” the foreign companies: - which are obliged or intend to receive a Bulgarian VAT registration; - [...]
1. The registration of the foreign person shall be terminated upon the availability of the general provisions under the VATA for deregistration. The deregistration shall be executed in compliance with art.109 form VATA – Procedure for deregistration initiated by the foreign person. 2. When the foreign person had not determined [...]
