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Bulgaria Value Added Tax
- VAT in Bulgaria is 20%. There is a reduced rate of 7%.
- VAT is payable on assets and services in Bulgaria as well as on imports into Bulgaria.
- Exports from Bulgaria are exempt from VAT.
- Income from financial services such as insurance and banking services are exempt from VAT. Legal advice is also exempt from VAT subject to the terms specified in law.
- Every business that had a turnover in excess of BGL 50,000 in the previous 12 months must register with the VAT authorities.
- A 'VAT' bank account must be opened that will be used for payments of VAT and receipt of refunds.
Bulgaria Property Tax
- The rate of tax on real estate that is not used for residential purposes is 0.15%.
- The tax rate on residential buildings is according to the provisions specified in the local tax laws.
Bulgaria Transfer Tax
- The tax is levied on transfer of real estate and vehicles.The tax rates are 2%-4%.
Bulgaria Inheritance Tax
Inheritance Tax is levied on individuals inheriting Bulgarian property.
The tax rate is 0.7% for close relatives,up to 10% for non close relatives.
There are exemptions for property valued under BGN 250,000 .
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