Bulgarian company with sales in Great Britain

Bulgarian company with sales in Great Britain

 

Question:
Hello!

I am writing in connection with the following case - we have a company (registered under the VAT Act in Bulgaria), which carries out commercial activities. We plan to offer physical products through amazon.uk in the UK. The goods will be shipped to amazon warehouse there (FBA service). For this purpose we will register for UK VAT, as far as I research we will post the sales in Bulgaria through the UK sales diaries (from amazon). My question is where will the profit from sales through Amazon be posted - in Bulgaria or in England?

Do we have to submit additional accounting documents in Bulgaria in addition to the UK sales diaries?

Thanks in advance!

 

Answer:

Hello,

You will actually post everything in Bulgaria and accordingly you will owe taxes in Bulgaria. In the UK you will only file VAT returns, in which you must include the realized income and expenses incurred through your British VAT number, the VAT to them and you will pay the corresponding VAT. But the same income and expenses for which you have submitted information in the UK will be accounted for and will form a tax result in Bulgaria.

We hope we have been helpful to you.

Greetings!