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

The Bulgarian National Assembly Nov. 3 accepted for consideration Bill No. 51-502-01-57, on amending the VAT Act to align with EU directives and Court of Justice of the European Union (CJEU) case law. The bill includes measures to: 1) implement VAT Directive amendments by creating a special regime for small businesses under EU Regulation 904/2010; 2) allow Bulgarian businesses to apply the regime if annual turnover doesn’t exceed the registration threshold of 51,130 euros (US$59,135; 3) require small businesses in other EU countries applying the regime to register if annual turnover exceeds 51,130 euros in Bulgaria, or 100,000 euros (US$115,611) ...