Bulgaria Assembly Considers Bill to Harmonize VAT Law With EU Directives, Court Decisions

The Bulgarian National Assembly Nov. 7 accepted for consideration Bill No. 49-302-01-64, to amend the VAT law to harmonize VAT rules with EU directives and with decisions of the Court of European Union (CEU). The bill includes measures to: 1) remove the requirement for non-EU entities to designate an accredited representative for VAT registration under the outside the Union regime; 2) introduce new thresholds for mandatory and voluntary registration for small businesses, effective Jan. 1, 2025, deferred payments of VAT on imports in cases of centralized import clearance, and rules for adjusting initially deducted tax credit in cases of destruction ...