31 January 2023
Bulgaria has amended its VAT Act to provide relief on bad debts from 1 January 2023.
Prior to January 2023, Bulgaria did not have a provision for bad debt relief in its legislation. This meant that suppliers that had paid VAT to the Bulgarian tax authorities relating to sales invoices that remained unpaid could not reclaim the VAT amounts back. This is contrary to the EU VAT Directive, which requires neutrality from a VAT standpoint.
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