site.btaParliament Adopts in Principle Revisions to VAT Act that Allow Customers not to Pay if They Don't Get Receipt

Parliament voted on first reading revisions to the VAT Act that allow customers not to pay for a service if they don't get a receipt. The revisions were backed on 102-43 voted with 21 abstentions. 

The changes also keep the zero VAT for bread and flour and the reduced VAT rate of 9% (rather than the general 20%) for restaurants.

The zero VAT for bread and flour will apply until June 30, 2024 and the 9% for restaurants until the end of 2024. 

The threshold for VAT registration is dropped to a turnover of BGN 166,000.