Turnover for VAT registration of an agricultural producer

Turnover for VAT registration of an agricultural producer

Question:
Hello!
I need information regarding the mandatory VAT registration upon reaching a taxable turnover of BGN 50,000. for 12 months. It is a registered farmer. Which amount is looked at: the total revenue generated or the amount after deducting 60% of operating costs?
Thanks in advance!

Answer:
Hello,
We look at the turnover before deducting legally recognized costs - i.e. all income. From January 1, 2023, the threshold for registration under the VAT Law has been increased to BGN 100,000
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