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	<title>Bulgaria property news and articles</title>
	<link>http://blog.bestbgproperties.com</link>
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		<title>The Double Taxation Treaty between Bulgaria and the UK</title>
		<description><![CDATA[Just to reiterate: it is possible to be tax resident in more than one country at the same time. In this case you could end up liable to pay the same tax in both countries. Also, a particular item of income could, under each country's different rules, be taxable in both the country in which it is sourced and also in the country in which the recipient of that income is resident.

For these reasons, many countries have concluded agreements called double taxation agreements with other countries to protect individuals from being required to pay tax twice. Bulgaria and the UK have such an agreement. ]]></description>
		<link>http://blog.bestbgproperties.com/bulgaria_news/477</link>
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		<title>Employment Income in Bulgaria</title>
		<description><![CDATA[For an employee it is your employer's responsibility to deduct and pay your income tax to the government each month (similar to the PAYE scheme in the UK).They are also responsible for paying the Bulgarian equivalent of your social security and National Insurance contributions.

Income tax is calculated according to what rate-band your income falls into, and then is subject to a percentage tax plus a fixed figure tax. Examples of the tax rates and fixed rate taxes for income tax payable on employment income in 2007 are shown in the tables below:]]></description>
		<link>http://blog.bestbgproperties.com/bulgaria_news/468</link>
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		<title>Other Taxes in Bulgaria</title>
		<description><![CDATA[In Bulgaria the issue of taxation is made more complicated by the fact that many foreign owners of property can own it either as individuals or through a company. This means that it is necessary to examine the tax implications for both cases. The matter is further complicated if buying as an individual, because your tax base will be dependent on your tax residence. Therefore below we have divided the discussion concerning tax into three sections:

• Other taxes payable in Bulgaria by non-resident individuals.
• Other taxes payable in Bulgaria by resident individuals.
• Other taxes payable by companies.]]></description>
		<link>http://blog.bestbgproperties.com/bulgaria_news/461</link>
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		<title>Value Added Tax in Bulgaria</title>
		<description><![CDATA[The current rate of VAT in Bulgaria is 20 per cent. If you buy a property as an individual or as a company from a VAT-registered company,you will have to pay 20 per cent VAT. The seller then passes on this VAT to the government.

VAT Registration
Companies are obliged to register for VAT if the value of their sales is equal to or exceeds 50,000 leva (around €25,500) in any period not exceeding 12 months. You can also choose to register for VAT even if you have no revenue at the time of registration.]]></description>
		<link>http://blog.bestbgproperties.com/bulgaria_news/455</link>
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		<title>Taxes Payable in Bulgaria</title>
		<description><![CDATA[A lot of people who live in Bulgaria and who are legally obliged to pay tax there simply do not do so. A lot of people who do not live in Bulgaria but who are obliged to pay taxes to the Bulgarian government because they have, for example, let out their home in Bulgaria also do not pay tax to the government in Bulgaria. If they do not pay taxes in Bulgaria they usually also fail to pay the taxes they owe in Britain or wherever else they live.]]></description>
		<link>http://blog.bestbgproperties.com/bulgaria_news/447</link>
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		<title>Tax Residence in Bulgaria</title>
		<description><![CDATA[Tax residence in Bulgaria is determined largely by one simple rule - if you spend more than 183 days a year in Bulgaria, you are regarded as being resident there for tax purposes.



Tax Residence in More than One Country

Remember that you can be a tax resident in more than one country under the respective rules of those countries. For example, you might spend 230 days of every year in Bulgaria and 135 days in England. In this case you could end up, under the rules of each country, being responsible for paying the same tax in two or more countries.]]></description>
		<link>http://blog.bestbgproperties.com/bulgaria_news/435</link>
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