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Requirements for cash registers for connection to the tax agency system will be eliminated. This will be done by repealing the provisions of the specific article of the Value Added Tax (VAT) Law, relative to the requirements for declaration and use of the sales management software (SUPTO). Such changes in tax legislation were adopted by the Council of Ministers, reports Monitor.
The reason for the cancellation is the great public response around Ordinance H-18 in question and the numerous signals for
The increased administrative burden and business costs that these requirements create, especially in a pandemic, have posed a number of challenges for economic operators.
The Law on Special Taxes and Tax Deposits will also be modified by the VAT Law. The idea is to reduce the administrative burden for licensed stockists without delays in excise duty payments, where it is necessary to exceed the determined and provided security for the tax warehouse.
Several amendments were also made to the Corporation Tax Act (CITA). One of them is that the deadline to declare and pay annual taxes has already been moved to June 30 and the start date will be March 1. The same will apply to individual traders and farmers. The owners will declare their income under stricter rules, in accordance with the amendments to the Personal Income Tax Law (PITA). It is proposed to introduce a new relief when reforming the house.
The objective is that individuals who have made improvements and repairs to their own home during the year can reduce the total amount of their annual tax base with the actual labor costs paid by them to the individuals or legal entities that carried out the repairs.
The Law on Local Taxes and Fees introduces an administrative relief. Upon completion of a building, only a commissioning certificate or use permit will be presented. In case of termination of the SME registration due to export or total damage, no tax will be owed for the acquisition of the vehicle. The rule will apply only if there is no subsequent registration of the vehicle by a new buyer in the country.
The CITA extends the application of tax relief, which is a minimum aid until December 31, 2023, and tax relief, which is regional development aid, until December 31, 2021.
Sofia, Bulgaria
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