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New Amendments to the Local Taxes and Fees Act

As of January 1st, 2021, amendments to the Local Taxes and Fees Act (LTFA) will enter into force. The amendments have been promulgated in the State Gazette issue as of December 8th, 2020, introduced by the Law for Amendment to the Value Added Tax Act.

Among the changes of the LTFA, the essential amendments regard:

Real estate tax

These amendments to the LTF aim to reduce the administrative burden on taxpayers. For this purpose, it is no longer necessary to provide a certificate issued by the Agency for Geodesy, Cartography and Cadastre (AGCC) for taxation of newly constructed buildings or parts of buildings.

As a piece of evidence for completion of a construction it is enough to provide only:

Motor vehicle tax

The second major amendment introduces new cases where taxes for acquisition of motor vehicles is not due. Thus, acquisition of motor vehicles is tax-free if acquired:

The news above is for information purposes only. It is not a (binding) legal advice. For a thorough understanding of the subjects covered and prior acting on any issue discussed we kindly recommend Readers consult Ilieva, Voutcheva & Co. Law Firm attorneys at law.