Bulgaria: Regulation for the Application of the Vat Tax Act

Amendments to the Regulation for the Application of the VAT Tax Act were published in the State Gazette and mostly entered into force on 28 February.

Correction of input VAT credit. As of 1 January 2013, a taxable person which has not deducted any input VAT for goods and services which are subsequently used for taxable supplies is entitled to input VAT credit. The amendments to the above mentioned Regulations introduce procedures for the recovery of the input VAT credit. One of the conditions is that the taxable person should have duly reported the tax documents for the purchase of the goods or services in the VAT purchases ledger in the respective prior period.

Input VAT credit can also be claimed when the goods/services have been used for taxable supplies prior to the amendments to the Regulation but in such cases the input VAT credit right can be exercised not later than 30 April 2013.Alessandro Pasut 6

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