International taxation

Tax audits have made a huge leap in recent years, mostly in terms of their quality and not so much in terms of their number, which is more or less on the same level as previous years

Bureau audits, complex cross-checks and data now obtained from dozens of sources have curbed tax evasion, uncovering undeclared income.

This year, the tax authorities have sent out 7,159,164 ENFIA payment notices

In an important stride towards global transparency and cooperation in tax matters, Bulgaria has received a laudable rating of Largely Compliant from the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes (GFTEITP).

After many decades of endless queues, frustration and bickering, the end of the tax office - at least as we know it - has come.

The main idea of the overhaul is to limit face-to-face transactions between tax officers and taxpayers unless necessary, with most procedures being conducted online.

Deputy Prime Minister and Minister of Foreign Affairs, Mariya Gabriel, has underscored Bulgaria's commitment to its accession to the Organization for Economic Co-operation and Development (OECD) as a top foreign policy objective.

The European Commission has unveiled plans for significant tariff hikes on grain imports from Russia and Belarus. The proposed tariffs, described as potentially functioning as de facto sanctions, aim to address growing concerns over the use of food exports as a geopolitical tool by Moscow while safeguarding EU markets and farmers.

EU member states and lawmakers on Wednesday reached a deal to cap duty-free imports of some Ukrainian grains, which were allowed in the wake of Russia's invasion but have drawn fierce protests from farmers in the bloc.

Amidst growing pressure from farmers and member states, the European Union is poised to reverse tariffs on grain imports from Russia and Belarus, a move aimed at easing tensions and supporting agricultural sectors, according to reports from the Financial Times.

The Economy and Finance Ministry has submitted to Parliament a draft taxation bill that foresees the establishment of a minimum tax rate of 15% for large multinational companies as well as large Greek groups.

The bill belatedly transposes a relevant European Union directive, that entered into force on January 1, into Greek legislation.

The Finance Ministry, in collaboration with the Independent Public Revenue Authority (AADE), is planning for the reduction of the withholding rate for those who have debts to the state and collect money or proceed with the sale of real estate. The reduced withholding will only concern those who are consistent with debt arrangements and pay their installments regularly.