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Parliament doubled the amount of the VAT exemption threshold for businesses

published on 7/8/22 3:42 PM

Photo: Ani Petrova

The National Assembly has amended the VAT exemption threshold for businesses from €25,500 to €51,000 of turnover from 2023. The amendments to the VAT law adopted at first reading affect a large number of small and medium-sized enterprises.

According to the ruling coalition, this will make businesses more competitive and reduce their administrative costs. This increase in the VAT exemption threshold must be approved by the European Commission. "We see no reason why Brussels should refuse us", commented Democratic Bulgaria MP Martin Dimitrov.

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Parliament doubled the amount of the VAT exemption threshold for businesses

More from category

Natural gas prices up 3% in October

Commercial operations of the Alexandroupolis LNG terminal begin

NSI: Business expectations fall due to uncertain economic environment

Commercial operations of the Alexandroupolis LNG terminal begin

Natural gas prices up 3% in October