Quick VAT thresholds update: Austria and Bulgaria
12th November 2019: Bulgaria and Austria have both updated their VAT thresholds.
Austria is proposing to increase its VAT registration threshold from €30,000 to €35,000 for small businesses. Non-resident businesses must VAT register on their first sale, and do not benefit from this threshold. This comes after the Federal Council (Bundesrat) approved the draft tax reform bill 10 October 2019.
The National Statistics Institute of Bulgaria has announced it plans to raise the Intrastat thresholds starting 1 January 2020. The new Intrastat dispatches threshold will increase from BGN 280,000 to BGN 290,000. The new Intrastat arrivals threshold will increase from BGM 460,000 to BGN 470,000.
If you have any queries or you are worried that your business is not prepared, please contact our team for free bespoke advice.
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