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Bulgaria to Reduce VAT to 18 percent after 2007
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Bulgaria will reduce the Value Added Tax (VAT) rate from the current 20% to 18% from 2007 under the new VAT bill, which the government has proposed to be enforced from January 1, 2006.
The bill is part of ongoing effort to align the local legislation to the EU body of law and to ensure the successful launch of the National Revenue Agency.
VAT revenues added up to BGN 3.8 B in 2004 and are budgeted at BGN 4.1 B for 2005.
Under the new bill, any small businesses - defined as entities with an annual turnover below BGN 50,000, may register for the purposes of the VAT Act. The new bill shortens the VAT refund period from 45 to 30 days.
The new bill keeps intact the preferential treatment that priority investment projects already enjoy. Eligible projects should have an implementation period of up to 2 years, investment should total BGN 10 M with at least 50 new jobs created in the process.
Eligible investors should have no outstanding financial obligations and should prove they have the necessary financing. If all the conditions are met, the investors are eligible to be refunded VAT incurred by the purchase of the investment goods. |
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Bulgarian Properties |
Cheap Properties in Bulgaria >>
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One Good Opportunity Bulgarian Property - RUS1954 - DISCOUNTED PRICE
Brief: Houses for sale near Ruse
Area: 90 sq.m.
Price: 8900 EUR
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Amazing Opportunity - Bulgarian Property - More than 16000 sq.feet of Land - RUS1581
Brief: Houses for sale near Ruse
Area: 100 sq.m.
Price: 5900 EUR
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Cheap land for sale in Bulgaria - LND02
Brief: Agricultural land for sale near Ruse
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Brief: Land for sale near Veliko Tarnovo
Area: 3385 sq.m.
Price: 40620 EUR
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Brief: Houses for sale near Ruse
Area: 90 sq.m.
Price: 9800 EUR
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Brief: Houses for sale near Veliko Tarnovo
Area: 100 sq.m.
Price: 8800 EUR
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Brief: Houses for sale near Veliko Tarnovo
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Brief: Houses for sale near Ruse
Area: 100 sq.m.
Price: 37500 EUR
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Brief: Houses for sale near Ruse
Area: 80 sq.m.
Price: 9800 EUR
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Brief: Houses for sale near Silistra
Area: 60 sq.m.
Price: 9500 EUR
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Brief: Houses for sale near Ruse
Area: 80 sq.m.
Price: 14000 EUR
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Brief: Houses for sale near Ruse
Area: 100 sq.m.
Price: 20000 EUR
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RUS1511
Brief: Houses for sale near Ruse
Area: 100 sq.m.
Price: 11200 EUR
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