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Bulgarian government raises VAT threshold

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The Bulgarian government has agreed to change the threshold VAT limit from 2500 to 5,000 euro. The introduction of the reverse charge mechanism of VAT will contribute to the reduction of losses from VAT fraud and on the other hand will limit unfair competition, which is an important support for small and medium enterprises. Also the use of the mechanism of reverse charge leads to a decrease in cash flows and provides additional working capital for the business, as recipients will have no obligation to pay the tax to suppliers.






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