The communication also states that a threshold of BGN 50,000 for mandatory VAT registration will apply until 31 December 2022.
From 1 January 2023, the threshold for mandatory registration will be BGN 100,000. This threshold will apply until 31 December 2024, after which new rules for a special regime for small businesses will come into force.
It should be borne in mind that these thresholds apply to the periods in question when determining taxable turnover, both for compulsory registration under the Act and for cases of voluntary deregistration due to the reasons for mandatory registration ceasing to apply.
In addition, it is specified that registered taxpayers whose taxable turnover in the previous 12 months from 1 January 2023 was below BGN 100,000 may apply for termination of their VAT registration. Registered taxpayers below the new threshold as of 1 January 2023 and wishing to remain registered do not need to act.
Regardless of the amount of taxable turnover under Art.96, any person, resident in another Member State, who carries out taxable supplies in Bulgaria is subject to VAT registration.
