The flat tax had a positive influence for the budget and this is an important result. The low tax rates are mostly criticized, because they don`t insure enough incomes to the budget and they “take the blood” out of the government and the social system. In this case it is [...]
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 [...]
CORPORATE LAW All the companies operating in Bulgaria – local, foreign, offshore, branches of foreign companies, etc. are a subject of corporate taxation. The corporate income tax rate is 10% in Bulgaria and it is based on the net profit. It is calculated annually for the period between 1st of [...]
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 the State Gazette, issue 18 of 1 March 2011 amendments to the Consumer Protection Act (the „CPA”) were promulgated, which have entered into force as of 5 March 2011. The most substantial changes concern the sales of drugs by means of distance contracts (including through electronic trading platforms). Prior [...]
