- VAT Registration Threshold Reduction: Bulgarian lawmakers have approved a reduction of the VAT registration threshold from BGN 166,000 (USD 91,600) to BGN 100,000.
- Effective Date: This change will take effect on April 1, 2025, as part of the 2025 Budget law.
- Reversal of Previous Increase: The decision reverses the earlier increase to the threshold that was implemented at the beginning of the current year.
Sources
Unofficial translation in English of the section in the State 2025 budget
§ 24. In the Value Added Tax Act (promulgated, SG No. 63/2006; amended, SG Nos. 86, 105 and 108/2006; Decision No. 7 of the Constitutional Court of 2007 – SG No. 37/2007; amended, SG Nos. 41, 52, 59, 108 and 113/2007, SG No. 106/2008, SG Nos. 12, 23, 74 and 95/2009, SGNo. 94 and 100/2010, SGNo. 19, 77 and 99/2011, SGNo. 54, 94 and 103/2012, SGNo. 23, 30, 68, 98, 101, 104 and 109/2013, SGNo. 1, 105 and 107/2014, SGNo. 41, 79, 94 and 95/2015, SGNo. 58, 60, 74, 88, 95 and 97/2016, SGNo. 85, 92, 96 and 97/2017, SGNo. 24, 65 and 98/2018, SGNo. 24, 33, 96, 100, 101 and 102/2019, SGNo. 14, 18, 52, 55, 71, 104 and 107/2020, SGNo. 17 and 111/2021, SGNo. 14, 18, 52, 58, 99 and 102/2022, SGNo. 66, 106 and 108/2023 and SGNo. 42, 70 and 79/2024) the following amendments and supplements shall be made:
1. In Art. 96, para. 1 and Art. 102, para. 4 the words “BGN 166,000” shall be replaced by “BGN 100,000″.
2. In Art. 118 shall be inserted para. 24:
‘(24) Where an invoice for the supply of fuels is issued, reported through the ESFM and paid in cash, by cheque, by voucher, by bank credit or debit card or by other means of payment substituting money, the invoice shall be issued by the ESFM in the form of an extended fiscal receipt at the time of the sale. In these cases, the provision of Art. 113, para. 4 and 13.”
