Sofia, March 27) - Four documentaries featuring the advantages of the investment environment in Bulgaria are being prepared by the Bulgarian Agency for Investments.

The documentaries are part of the largest advertising campaign in Bulgaria's recent history, aimed at promoting the conditions for doing business here.

This became clear at a conference in Sofia, where representatives of the largest economic media in the world presented their activities and the potential benefits from their cooperation with the Bulgarian government. The campaign costs 15.6 million levs and is financed under the Operational Program Competitiveness of the EU.

Each of the four documentaries will cover different topics ? human potential, industrial zones, successful investors (foreign and Bulgarian alike) and the priority economic sectors in the country.

They will be used in presentations and will be a virtual brochure about Bulgaria.

In addition, three short videos featuring the investment climate in Bulgaria will be continuously broadcast by Bloomberg, CNBC and CNN.

Finally, over 40 banners will be advertising Bulgaria on the websites of Bloomberg, Wall Street Journal, Financial Times, The Economist, CNBC and CNN. The printed editions of these media will publish 39 articles advertising Bulgaria as an investment destination.

"Strange as it may seem, many investors don't even know that Bulgaria is a full member of the EU with a ten-percent corporate tax," said Borislav Stefanov, head of the Bulgarian Agency for Investments.
Martin Lekov http://paper.standartnews.com

Register for VAT - Bulgaria

Register for VAT The Value Added Tax Act (promulgated on August 4, 2006 in State Gazette issue 63) became effective on January 1, 2007 (Bulgaria's EU accession date). Under this new law, the company may voluntarily register for VAT purposes at any time, because the current threshold requirement has been abolished. 

A voluntarily registered person shall remain VAT-registered for 24 months starting from the beginning of the year following the year of VAT registration. The company must register for VAT purposes in Bulgaria if its turnover for 12 consecutive months exceeds BGN 50,000. Specific grounds for obligatory registration for VAT purposes apply when:

 • A person from an EU member state who is not established in Bulgaria and provides taxable supplies of goods that are to be assembled or installed in Bulgaria by that person or at his or her expense (if the recipient is not registered for VAT in Bulgaria)

 • A person from another EU member state supplies goods to Bulgaria exceeding total value of BGN 70,000 under the conditions of distance sales of goods within a given calendar year 

• A person (whether resident or not) performs taxable intracommunity acquisitions in Bulgaria exceeding BGN 20,000 within a given calendar year 

• A person (whether resident or not) receives supplies of services under chargeable supplies having place of performance on Bulgarian territory with respect to which the VAT is due by the recipient 

• A Bulgarian resident performing supplies of services having place of supply the territory of another EU member state

*1 day (filing), about 12 days for final registration