Bulgaria’s new rule on VAT submissions via internet comes into force
New rules requiring companies to submit their value-added tax (VAT) declarations solely online if the company made more than five purchases or sales in a month came into effect on January 1 2012, according to Bulgaria’s National Revenue Agency.
However, there will be a grace period of one month for the new requirement.
To use the service, an electronic signature is required. If a company lacks an electronic signature, it may authorise another company, such as an accounting firm, to submit the declarations on their behalf.
The revenue agency said that the requirement to submit VAT declarations only online was intended to save time and costs.
Details of the rules may be found at the National Revenue Agency website nap.bg (in Bulgarian) while the agency has a telephonic helpline, 0700 18 700.
Text and photo: www.sofiaecho.com
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