Change to tax deduction rules

In 2018, a 5% rebate on personal income taxes is retained when they are declared online, but the time is shortened – instead of the end of March, the preference will be available until the end of January.

The amount of the rebate also changes. The ceiling is reduced from 1000 to 500 BGN and a rebate will only be available if the respective taxpayer has no taxable obligations at the time of filing the declaration.

An income statement with a barcode can be downloaded fron NRA’s website. It is a software product, which can easily and quickly fill the declaration and calculate the tax due without arithmetic errors. For this purpose, the information about received incomes, paid contributions and used reliefs must be filled in in the respective boxes of the declarations. If the person has a personal identification code (PIC), he can submit the online statement without having to send it via post or go to an NRA counter.

According to the tax agency, 2000 declarations were submitted only in the first 10 days of the year.

Companies and self-insured individuals must file a report on the benefits paid to individuals by the end of February and not by the end of April, as it has been so far.