Bulgaria Amends VAT Application Rules
The Bulgarian Ministry of Finance announced new amendments to the application of VAT laws which includes compulsory deregistration of certain foreign entities for VAT.
- (1888PressRelease) February 28, 2012 - Sunnyvale, CA - The amendments came into effect on February 21, 2012 and include the following changes:
Deregistration for VAT, of entities and branches of foreign entities has been made compulsory for companies that have not re-registered their entities with the Commercial Register by close of calendar year 2011.
Proposed amendments to descriptions of "permanent address" and "usual residence" for determining the individual service receiver's place of supply have been deleted.
* The special VAT scheme for tourist services mandates tour operators to obtain a declaration from their clients which should state that the service received will not be used for further supplies specifically when the client is a taxable person.
About Nair & Co.
Nair & Co. provides you with your one touch outsourced finance, internal audit compliance, HR and legal department for your international operations. If you are expanding abroad for the first time, our turnkey solution will help you do so with minimal risk, stress and cost. We currently support more than 1000+ client operations in over 50 countries and have core offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP). Learn more at www.nair-co.com
###
space
space
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam