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Bulgarian Taxation

Do your business in Bulgaria!

Bulgaria is one of the hottest investment locations in Europe today! There has never been a better time to invest here. Given the current economic realities of Europe, the Bulgarian investment value proposition is indeed hard too much! The dynamics of the process of economic and society that is taking place now in Bulgaria is unprecedented in history and is as promising as it has never been before.
Corporate income tax: According to the Corporate Income Tax Act, all legal entities and unincorporated associations, which carry out economic activity in Bulgaria, are subject to the levy of corporation tax at the rate of 10%. For the purposes of this Act, the unincorporated associations are treated as equivalent to legal entities.
Divident tax: Dividents payable by local companies to owners defined by Corporate Income Tax Act, are taxed with 5% withholding tax. The rate is 0% for dividend paid to EU/EEA companies.
 Personal income tax: An individual in Bulgaria is liable for tax on his income as an employee as well as on income as a self-employed person. In the case of an individual who answers the test of a "permanent resident" of Bulgaria, tax will be calculated both on his income earned in Bulgaria and overseas. A foreign resident who is employed in Bulgaria pays tax only on his income in Bulgaria. To be considered a Bulgarian resident, the requirements must be met of residency in Bulgaria of at least 183 days in any calendar year, and occasionally also if residency is less than 183 days, if the individual has a home in Bulgaria that is his main residence, he will be considered a Bulgarian resident. An employer is obligated to deduct the income tax payable as well as national insurances, immediately each month from a salary paid to an employee. Certain payments are deducted from taxable income as detailed below. Income employment relationships and legal relationships equivalent to employment relationships are taxed with 10% personal income tax.

Value Added Tax Act (VATA):

  • VAT in Bulgaria is 20%. There is a reduced rate of 9% for hotel services
  • All European directives about VAT are valid in Bulgaria 
  • Registration under VATA is compulsory or optional:
    • Every business that had a turnover in excess of BGL 50,000 in the previous 12 months must register with the VAT authorities;
    • Any taxable person, regardless of the amount of his taxable turnover, may register under VATA at his own option.

Double Tax Treaties
The Bulgarian Government has concluded Double Taxation Treaties with the following countries:

Albania

Algeria

Armenia

Austria

Azerbaijan

Bahrain

Belarus

Belgium

Canada

China

Croatia

Cyprus

Czech Republic

Denmark

Egypt

Estonia

Finland

France

Georgia

Germany

Greece

Hungary

India

Indonesia

Iran

Ireland

Israel

Italy

Japan

Jordan

Kazakhstan

Lebanon

Luxembourg

Kuwait

Latvia

Lithuania

Macedonia

Malta

Morocco

Moldova

Mongolia

Netherlands

Norway

North Korea

Poland

Portugal

Qatar

Romania

Russia

Serbia

Spain

Singapore

Slovakia

Slovenia

South Africa

South Korea

Sweden

Switzerland

Syria

Thailand

Turkey

Ukraine

United Kingdom

UAE

US

Uzbekistan

Vietnam

Zimbabwe

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