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Tax center

 

Main duties:

• tax on individuals 10% (flat tax)

• Corporate tax 10% (flat tax)

• 5% tax on dividends

• value added tax (DDS) 20% and nil in the case of exports and intra-Community supplies.

Obligation for payment of VAT is only in the following cases:

1. Turnover in excess of 50,000 leva (EUR 25.000)

2. Intra-Community supplies of more than 20,000 leva (EUR 10.000)

3. Distance selling over 70,000 leva (EUR 35.000)


• Excise duty levied on alcohol, tobacco, luxury cars, electricity and oil.

• The municipal councils shall, within the framework of the law, the exact amount of municipal taxes and charges:

- Municipal tax on all property from 0.5% to 2%

- Local real estate transfer tax from 1.3% to 2.6%.

 

Tax exemptions:

Operators have invested in deprived areas (where unemployment during the preceding year was significantly above average in the country) can benefit from certain tax benefits if they meet certain conditions.

Specifically:

• discharge up to 100% of corporation tax (10%) for industrial units located in areas where unemployment is higher by at least 35% of the average. This exemption applies for five years regardless of trends in unemployment.

• Reduction of corporate tax to 10% of the value of fixed investment (excluding passenger cars), provided that the investment takes place in areas with unemployment higher by 50% of the national average.

• Special discount (deduction from earnings of wage and employer contributions of up to 12 months) for businesses that hire registered unemployed.

• Exemption from corporation tax in the case of legal persons engaged in technical cooperation programs, funded by the Community Programs PHARE and ISPA.

 

Tax treaties for the avoidance of double taxation concluded between Bulgaria and:

Austria, Canada, Syria

Armenia, Cyprus, Slovakia

Albania, Algeria, Slovenia

Belarus, China, Thailand

Belgium, Korea, Turkey

Kuwait, Kingdom, Uzbekistan

Vietnam, Lebanon, Ukraine

Germany, Hungary, Latvia

Luxembourg, Montenegro, Finland

Greece, Macedonia, France

Denmark, Malta, Holland

Egypt, Morocco, Croatia

Zimbabwe, Mongolia, Czech Republic

Israel, Switzerland, Moldova

India, Norway, Sweden

Indonesia, Poland, South Africa

Ireland, Portugal, Yugoslavia

Romania, Japan, Spain

Italy, Russia, Iran

Kazakhstan, Lithuania, Singapore

 

Avoidance of double taxation.