Bulgaria: removed restrictions related to supplies for which self-invoicing may be applied

Self-invoicing. Prior to the amendments to the Regulation for the application of the VAT Tax Act, the recipient was allowed to issue invoices for supplies received (self-invoicing) only when both the supplier and the recipient were established in Bulgaria. The restrictions related to the types of supplies for which self-invoicing may be applied have been removed. The agreement for self-invoicing may be verbal. However, in view of the requirement to notify the National Revenue Agency it is recommendable that the parties conclude a written agreement.

Supplies between head-office and branch. The supply of services between a head office established in another EU Member State and its branches/units in the country and vice versa will not be considered a supply for VAT purposes and in such cases VAT will not be charged. The amendment harmonises the Bulgarian legislation with the EU rules and will decrease the number of transactions between head office and a branch which should be reported for VAT purposes.

Other amendments. The deadline for the submission of the list of available assets in case of restructuring/transfer of enterprises as a going concern is extended from 30 to 45 days. The new deadline applies also to cases for which the 30 days period has not expired as of 28 February 2013.Alessandro Pasut 3

To have a consultation by Alessandro Pasut on international economy click here.

Share

Tags: ,

Lascia un Commento

L'indirizzo email non verrà pubblicato. I campi obbligatori sono contrassegnati *

*

È possibile utilizzare questi tag ed attributi XHTML: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>