Tue, May 22 2012

Bulgarian National Revenue Agency targets rental income

Mon, Apr 12 2010 16:49 CET

byNick Iliev

7151 Views 2 Comments
Bulgarian National Revenue Agency targets rental income

Photo: Julia Lazarova

The National Revenue Agency (NRA) has called for the public to remain vigilant and inform the authorities of people who collect rental income but fail to declare it accordingly, Bulgarian Dnevnik daily reported on April 12 2010.

This usually pertains to tenants who rent properties without a contract being issued, with the owners offering them a deal under the table.

NRA have provided a phone and an email address, which are valid for both private or corporate lending, the article says.

According to the report, the failure to declare rental income in Bulgaria remains a major problem, contributing substantially to the country's so called grey economy.

All rented property should be accompanied by a contract, but in many cases the owners either fail to disclose it, or declare substantially lower rents in order to pay less taxes. NRA urge the public to inform them, along with a copy of the rental contract and their names, – although they "guarantee full confidentiality".

All rental income, according to NRA, must be declared by the end of April.

For further information, contact NRA at 0700 18 700

or email them at: infocenter@nra.bg

Source propertywisebulgaria.

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Comments

Anonymous oldskool Tue, Apr 13 2010 08:32 CET
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mmm neighbours reporting on each other.... reminds you of something? :D

Преглед на профил amrasel Tue, Apr 13 2010 00:14 CET
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Oh come on.
NRA's idea is to get the owners of city center stores who get about 5K BGN per store and declare nothing because they deposit proceeds to accounts of offshore companies in Bulgarian banks.

If NRA really wants to do something it should require that all payments made to non - BG companies are taxed at deposit with 30%

Whoever whants to make income in the BG is more than welcome but taxable income should be taxed at territorial principle - taxed where it has been generated.
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