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9% VAT for Tourism

On November 15, the Parliament passed at first reading several important amendments in a number of tax bills. The amendments involve the Individual Tax, Value Added Tax (VAT) and the Excise and Tax Warehouses Acts.

In tourism, the reduced to 9% VAT will be now used not only by hotels, but in mountain cabins, and guest houses. According to experts from the National Revenue Agency (NRA), this will not change prices and the business of the facilities since most guests houses are not registered under VAT. The amendment, however, would harmonize Bulgaria's legislation with the EU one, where the preferential tax rate must be applied to the service labeled "accommodation," regardless of the type of facility.

According to the amendments, individuals practicing independent economic activity can remain registered under VAT for the entire period of this activity until the deletion of their trade registration, without going through a de-registration procedure.

Those registered under VAT will be mandated to submit declarations online, in exception of those with very small turnover, who will be able to submit up to five paper declarations.

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