03.23.22
Zero-rate VAT applied to certain products
In line with spiralling living costs across Europe, Bulgaria is introducing further tax measures intended to reduce the burden on taxpayers. To this effect, it has put forward a draft Bill Amending and Supplementing the Value Added Tax Act. It has proposed a VAT reduction on the following items:
• Basic foodstuffs;
• Non-alcoholic drinks;
• Medical products;
• Heating, electricity and gas.
This measure will now be debated in Parliament. It is expected that this measure could come into place as soon as 1st April 2022 if approved.
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