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CASH TRANSACTIONS LIMIT IN BULGARIA WILL BE LOWERED

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The limit on cash transactions will be decreased from 15,000 to 5,000 BGN, Bulgaria’s government decided on 7th of October. Other decisions adopted by the Cabinet include simplified procedure for hiring highly-qualified foreigners to work in...

cash transactions limit bulgaria lowered

The limit on cash transactions will be decreased from 15,000 to 5,000 BGN, Bulgaria’s government decided on 7th of October.

Other decisions adopted by the Cabinet include simplified procedure for hiring highly-qualified foreigners to work in Bulgaria, i.e. simplified procedure for issuing the so called “blue card”.

The Cabinet has also decided that companies have to prove that vehicles and properties at a value higher than 5,000 BGN will be used only for the purposes of their business. They will prove it by submitting a declaration to the National Revenue Agency. Otherwise they will not have the right to use tax credit.

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