Bulgaria Assembly Considers Bill to Align VAT Act With EU Directives, Court Decisions

The Bulgarian National Assembly Dec. 2 accepted for consideration Bill No. 51-402-01-10, on amending the VAT Act to align with EU directives and decisions by the Court of Justice of the European Union (CJEU). The bill includes measures to: 1) implement amendments to the VAT Directive by establishing a special VAT regime for small businesses, monitored in accordance with Regulation No. 904/2010; 2) introduce a VAT exemption for goods and services supplied by small businesses with annual turnover up to 85,000 euros (US$89,385) within the Member State, or up to 100,000 euros (US$105,159) across the EU; 3) incorporate EU Directive ...