Bulgaria Assembly Considers Bill to Increase VAT Registration Thresholds

The Bulgarian National Assembly April 21 accepted for consideration Bill No. 47-254-01-42, to increase VAT registration thresholds. The bill includes measures to: 1) increase the mandatory VAT registration threshold to 100,000 Bulgarian leva (US$55,254), effective Jan. 1, 2023, and to 166,000 leva (US$91,719), effective Jan. 1, 2024, from 50,000 leva (US$27,627), for taxpayers supplying taxable items, including zero-rated supplies, financial services, and insurance services; 2) increase the threshold for holding taxpayers liable for non-fulfilment of VAT registration obligations to 100,000 leva, effective Jan. 1, 2023, and to 166,000 leva, effective Jan. 1, 2024, from 50,000 leva; and 3) set VAT ...