VAT Registration of a Company

VAT registration in Bulgaria is a process through which companies and individuals conducting independent economic activities register with the National Revenue Agency (NRA) for Value Added Tax (VAT) purposes. The registration can be either mandatory or voluntary.

VAT registration in Bulgaria is a process through which companies and individuals conducting independent economic activities register with the National Revenue Agency (NRA) for Value Added Tax (VAT) purposes. The registration can be either mandatory or voluntary.

Voluntary VAT registration is possible even if the company has not reached the mandatory turnover threshold. This option is preferred by some businesses to benefit from input tax credits, improve their image, and facilitate business relationships with partners in the EU.

When is VAT registration required?

Mandatory VAT registration is required upon reaching certain turnover thresholds or when performing specific activities:

  • When the taxable turnover of the entity exceeds BGN 100,000 for the last 12 consecutive months (from January 1, 2025, the threshold will be BGN 166,000).
  • When conducting intra-community acquisitions of goods exceeding BGN 20,000 for the current calendar year.
  • When providing services to taxable persons in other EU member states.
  • When receiving services from taxable persons outside Bulgaria.

Registration procedure

Voluntary VAT registration is possible even if the company has not reached the mandatory turnover threshold. This option is preferred by some businesses to benefit from input tax credits, improve their image, and facilitate business relationships with partners in the EU.

The registration procedure involves submitting an application and the required documents to the NRA. Upon approval, a VAT number is issued, which must be used on all tax invoices and returns. VAT-registered entities are required to submit monthly VAT returns and maintain specific accounting records in compliance with the VAT Act requirements.

VAT registration also brings responsibilities, such as the accurate calculation and payment of VAT, maintaining detailed tax records, and adhering to tax deadlines. Whether mandatory or voluntary, VAT registration is a crucial aspect of successful tax management and financial reporting for any company in Bulgaria.

 

Why choose AccountingV.com services for VAT registration

AccountingV.com accounting firm is available to help businesses by providing an expert service on VAT registration of your legal entity.

Choose the professionals in the field with trusted experts in accounting services. The AccountingV.com team will ensure that your business develops successfully, in full compliance with the requirements.

 

Do you need a VAT company registration?
Do not hesitate to contact us.
Phone 0876 880 928

Frequently Asked Questions

1How much does it cost to register a company for VAT?
We at Velikov Accounting can assist in registering your company for VAT. Contact us for more information.
2What is the VAT registration threshold?
When the person's taxable turnover exceeds BGN 100,000 for the last 12 consecutive months. (or BGN 166,000 from January 1, 2025)
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