The reduction of the Intrastat threshold in Bulgaria
Bulgaria just reduced the Intrastat threshold for both arrivals and dispatches as from 1 January 2017.
30 November, 2016
Bulgaria reducing the Intrastat threshold
The arrivals threshold will be reduced from BGN 460,000 to BGN 410,000 (approximately €210,000). The dispatches threshold will be reduced from BGN 260,000 to BGN 240,000 (circa €123,000).
In addition, statistical thresholds have also been reduced. These threshold require more level of detail in your Intrastat returns. The new statistical Intrastat thresholds as from January 2017 in Bulgaria will be BGN 5,600,000 for arrivals and BGN 11,700,000 for dispatches (approximately, €2.8M and €5.9M respectively).
You can find all threshold limits on our Intrastat thresholds table for 2018.
How are these thresholds computed?
The way of computing these thresholds must look your calendar year. Once the threshold is exceeded in a calendar year (January to December), another calendar year must be completed below the threshold before the authorities allow you to stop submitting Intrastat returns. For example, if you make an intra-Community acquisition of goods in Bulgaria in March 2017 for BGN 500,000 but no more intra-Community acquisitions are made after that first purchase, your business must continue to submit Intrastat returns until January 2019, when your last Intrastat return for 2018 is submitted. Only then you would be able to prove a complete calendar year below the Intrastat threshold.
We recommend checking regularly the value of your incoming and outgoing movement of goods from one EU country to another in order to confirm your need to submit Intrastat returns. All countries update their thresholds frequently and penalties for non-compliance are high. It is important to ensure compliance with your Intrastat obligations.
Contact us if you have questions about your Intrastat returns.