VAT registration of a person

VAT registration of a person

Question:
Hello!

I sell goods from the EU. The threshold for VAT registration in Bulgaria has been reached and I do not know how to proceed, last year a declaration was submitted under Art. 50 as a natural person carrying out commercial activity. In such a case, what should be done?

Thanks in advance!

Answer:

Hello,

Once you have reached the threshold for VAT registration, you must submit the necessary documents for VAT registration to the NRA. Individuals can also register for VAT. The deadline is the 7th of the month following the month in which you have reached the VAT registration threshold. An exception is when the turnover is reached for a period not longer than two consecutive months, including the current one. Then the registration must be done within 7 days from the date on which the turnover is reached. The registration takes place after submitting an application to the NRA. Subsequently, you will be required to provide additional documents and written explanations, which you must provide.

We hope we have been helpful.

Greetings!