Conditions for online store registration and VAT registration

Conditions for online store registration and VAT registration

 

Question:
Hello!

Is it necessary for my online store to be registered with the National Revenue Agency if I do not accept cash payments? Is it enough to send an invoice online or is a receipt required? Do I also have to be VAT registered to export goods abroad or use services based in the EU?

Thanks in advance!

 

Answer:

Hello,

Since you do not accept payments requiring the issuance of a receipt (including cash payments), you have no obligation to register your online store with the NRA. Of course, if you have the desire, you can do it. Since you do not receive a payment requiring you to issue a receipt, you can send your customer an invoice or some kind of receipt for the order that is made, which describes the items and the value of the order.

Regarding your question about VAT registration - there are many conditions, but we will try to cover them.

VAT registration will be mandatory in the following cases:

- if you reach sales of goods and services in Bulgaria of BGN 50,000 for the last 12 months;

- if you reach the sales of goods and services of a physical person within the European Union for the current year in the amount of 10 thousand euros;

- if you receive services from legal entities established outside Bulgaria - for example invoices from google, facebook or from the online platform you use (if you use one), etc .;

- if you sell services to legal entities established within the European Union (but outside Bulgaria).

There are many other cases of mandatory VAT registration, but they are quite specific and would hardly be applicable in your business.

We hope we have been useful to you!

Greetings!