site.btaBulgaria Moves towards Complying with EU Requirement for Automatic Exchange of Information on Traders on Online Platforms

Parliament Wednesday adopted first-reading revisions to the Tax and Social Insurance Procedure Code that transpose into Bulgarian legislation the requirements of an EU directive on the automatic exchange of information received from digital platforms about the traders carrying out their activity through those platforms.  

According to the European Commission, between 40% and 60% of the incomes made through digital platforms are not declared. That would allow all administrations through information exchange to determine whether the online traders have declared their actual incomes, reads the report of the parliamentary Budget and Finance Committee. 

The MPs decided to reduce to three days the timeframe for proposals between the draft amendments' first and second reading.