5 February 2019
From 1 July 2019, Bulgaria will introduce a deferred import VAT scheme for all businesses registered for VAT in the country.
Any business wishing to use the scheme will need to apply to the Bulgarian tax authorities for authorisation and once accepted, it will remove the requirement to pay import VAT when goods are cleared into the country. Instead the VAT will be deferred to the businesses’ VAT return.
This should result in savings on shipping costs and bank charges for the companies who import goods on a regular basis, as well as improve their cash flow as they will no longer have to wait for import VAT to be refunded by the Bulgarian tax authorities.
LATEST NEWS
Hungary to introduce mandatory digital VAT filing from...
From 1 January 2027, all businesses registered for VAT in Hungary will be required to file their VAT returns through the country’s eVAT, or eÁFA, system...
SEE MORE
LATEST NEWS
EU customs reform increases responsibilities for...
In September 2026, the EU formally adopted a new Customs Code that will significantly change how goods are imported into the EU. Although the reforms apply...
SEE MORE
LATEST NEWS
Germany plans import VAT accounting reform
Germany is planning to introduce a new import VAT accounting system from 1 January 2030, which could significantly improve cash flow for businesses importing...
SEE MORE