Bulgaria offers tax penalty relief for early payment

Bulgaria’s National Revenue Agency says that taxpayers can secure a reduction on fines if they pay within 14 days. According to new rules, violators that receive a fine may pay 20% less on the total fine amount if they pay within the stipulated period. The new rules took effect in December 2021.

Claiming a reduced penalty in Bulgaria

In order to secure a reduced penalty, you need to submit an application to the NRA and pay the relevant amount within two weeks of receiving notice of the penalty.

According to the NRA, if you do not submit an application, you will be obliged to pay the full penalty amount.

Bulgaria extends reduced VAT rate

Bulgaria’s tax authorities also announced an extension on the reduced VAT rate for certain goods and services.

Bulgaria cut the VAT rate on a range of goods - including restaurant purchases and travel - to a reduced rate of 9%. The cut was designed to offer relief amid the Covid-related downturn.

Tax authorities have now extended the VAT rate cut until 31 December 2022. 

Prevention, not penalties

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