Ad valorem tax
Real estate transfers – Excluding VAT until 2024
The Ministry of Finance is preparing to give a 15-day extension for real estate transfers with the current objective values, which at the same time plans to keep 24% VAT on the purchase and sale of newly built real estate on "ice" until 2024.
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Tax Authorities have Collected BGN 4 million from Properties Rented through Airbnb
Over BGN 4 million in income has been declared by owners who provide real estate to accommodate tourists through the Airbnb platform, the National Revenue Agency announced. Income taxation of this activity was introduced in February 2020 - about a month before a state of emergency was declared in Bulgaria due to the pandemic, which effectively put tourism on hold.
New VAT Rules Applying to Business-to-Consumer Trades in EU Effective as of 1 July 2021
As of 1 July 2021, new European VAT rules for business-to-consumers (B2C) transactions will apply, impacting suppliers of services, goods, marketplaces and postal couriers.
Why these new rules?
- To facilitate EU cross-border trades;
- To ensure fair competition for EU suppliers;
- To combat VAT fraud.
What's new?
Facebook to levy tax on local ads in Turkey
Turkish-based advertisers on Facebook lacking a valid Turkish value-added tax (VAT) identification number will be charged 18 percent on the value of advertising services as of April 1, the social media giant has announced.
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VAT Minimum Standard Rate Set Permanently at 15%
On 22 June 2018, the Council adopted a directive making the 15% minimum standard rate a permanent feature of a new VAT system.
The minimum standard rate prevents excessive divergence in VAT rates in the member states. This eliminates the risk of distortions of competition through lower VAT rates that would have an impact on cross-border shopping and trade.
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Bulgaria MPs Agree to Increase Cigarette Prices
The Bulgarian Parliament has passed legislation under which the excise tax on cigarettes will go up in 2017, also increasing consumer costs.
The current tax is BGN 70 per 100 pieces (the "specific excise"), plus 38% of the sale price (the so-called "ad valorem excise duty"), but its minimum total value is BGN 161 per 1000 pcs (EUR 82.2).
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Prices of Cigarettes to Go Up in Bulgaria through 2017
Bulgaria will return to a higher time table for the excise tax on cigarettes in a gradual manner by the beginning of 2018, Finance Minister Vladislav Goranov has said.
Earlier, some media outlets reported that changes to the excise were being prepared to meet EU requirements.
June comes along with tax tsunami
From today many goods and services become more expensive as of June 1st the new VAT hike comes into effect with the rate growing from 23% to 24%, while the salaries continue shrinking.
Greek citizens will be called to pay more for their everyday needs, since the new VAT rate applies to everything, from food, clothing and fuel to telecommunications, tickets and restaurants.
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VAT hike is confirmed in talks with creditors
Athens and its creditors reached an agreement on Wednesday on raising the ceiling of value-added tax but the distance between them on the tax-free threshold for incomes remains wide and is seen as the main stumbling block towards a full agreement on tax reform.
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Moscovici : Vat taxation in private education should be either 23% or none
Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs, responding to a query on VAT rate for private education he said that the government should impose either a 23% VAT or none.