site.btaFinance Ministry Proposes Amendments to VAT Act

104 ECONOMY - FINANCE - VAT ACT - BILL OF AMENDMENTS

Finance Ministry
Proposes
Amendments to VAT Act


Sofia, November 11 (BTA) - The Finance Ministry has drawn up a
bill of amendments to the VAT Act to meet the need of aligning
the national tax legislation to EU regulations and directives.

The bill is available on the Ministry's website.

From January 1, 2015, all telecommunications, broadcasting, and
electronic services supplied by taxable persons established in
the EU to non-taxable persons established in the EU become
taxable at the place where the customer belongs.

The proposed amendments also transpose Regulation No. 360/2012
on the application of Articles 107 and 108 of the Treaty on the
Functioning of the European Union to de minimis aid granted to
undertakings providing services of general economic interest.

The bill envisages changes in the Excise Duties and Tax
Warehouses Act whereby the excise duty on cigarettes is
increased gradually. A time frame is proposed for reaching the
minimum excise duty rate of the equivalent of 90 euro per 1,000
cigarettes by December 31, 2017. LI/DD