New Rule: No Receipt, No Payment - Bulgarian MPs Announce Policy Change

Bulgarian MPs have greenlit a significant shift in consumer rights, deciding that individuals won't be obliged to pay for goods or services if they haven't received a proper receipt. This groundbreaking decision alters the landscape for customers who previously had little recourse if they didn't receive a receipt.

The revised policy allows consumers who fail to obtain a receipt for a purchased item or service to withhold payment until they are provided with the necessary documentation. This change in legislation, proposed by Venko Sabrutev of the WCC-DB party, diverges from the previously popular notion colloquially known as the "free lunch" rule.

Interestingly, the approval of this measure was leveraged by Irena Dimova of GERB-SDS in advocating to maintain the 9% VAT for restaurateurs.

Another significant amendment to the Corporate Income Tax Act was also passed, imposing a 15% tax rate on companies with turnovers exceeding 750 million euros. However, this tax won't apply to investments and is set to be effective from January 1, 2025.

During the discussion, Yordan Tsonev of DPS expressed the party's opposition to tax increases, emphasizing that large companies were attracted to Bulgaria due to the country's 10 percent tax rate, which has been a competitive advantage. He attributed this tax policy to DPS's efforts during the time of the Triple Coalition.

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