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Questions about money, salaries and prices of goods in Bulgaria Bulgarian currency. Banks and financial institutions. Cost of living, eating, sleeping in Bulgaria. How much is food and drink in Bulgaria. Cost of living and communal expenses in Bulgaria. Examples of average prices for goods and products in Bulgaria. Prices at markets in Bulgarian towns, villages and resorts
Pages with Questions - PRICES AND MONEY: [1][2][3][4][5][6][7]
40. Are dollars and euro accepted in Bulgaria?41. Where I can change my money for Bulgarian levs?42. Can we use credit cards when in Bulgaria?43. What is Rental Income Tax in Bulgaria?44. What is Depreciation of Bulgarian Properties?45. What is the amount of the Transfer Taxes for Bulgarian Property Bargain?46. What kind of Local Taxes and Rates for property in Bulgaria I owe?47. Value Added Tax (VAT) for property bargain?48. What is the current average salary in Bulgaria? In which fields are the greatest salaries?49. Is it possible to use ATMs to get cash in Bulgaria and is there a charge for doing so?
Pages with Questions - PRICES AND MONEY: [1][2][3][4][5][6][7]
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Q40: Are dollars and euro accepted in Bulgaria?
A40: You can`t pay with USD or EUR! Just change your money in Change bureaus (there are many). Rates are something like 1 EUR = 2 BGN and 1 USD = 1.42 BGN
Last updated: Aug 2007
go topQ41: Where I can change my money for Bulgarian levs?
A41: Many local banks and currency exchange offices function in the capital and in the country. Big international banks also have offices here. Working hours of the banks: 9 a.m. - 4 p.m., Monday to Friday. Currency exchange offices are open to 6 p.m., some working 24 hours a day. Currency exchange at the airport on arrival or departure, and in the big hotels, is also possible (but a little expensive than in the towns).
Do not exchange money in the streets or outside banks and currency exchange offices despite the advantageous rate offered. The danger of deception is considerable.
Last updated: Aug 2007
go topQ42: Can we use credit cards when in Bulgaria?
A42: In the bigger towns, you can use your cards, but still only in the larger shops. All the major hotels will accept cards, and all the major petrol stations, but in general most other transactions are carried out in cash.
Last updated: Aug 2007
go topQ43: What is Rental Income Tax in Bulgaria?
A43: A company investing in Bulgarian property is taxed on its gross income derived from the property, minus tax-deductible, property-related expenses and depreciation. Tax-deductible expenses include repairs, maintenance, renovation and similar costs, as well as interest on loans used for acquiring the property.
A Municipal Tax at a rate of 10% of profits is due. This is then deductible in calculating taxable profits which are subject to a flat corporate tax rate of 15%.
more info >> /properties/Dir.asp?id=190
Last updated: Feb 2007
go topQ44: What is Depreciation of Bulgarian Properties?
A44: Land itself is not depreciable, although any immovable property affixed thereto is, provided that it is used for the business activities of the company and is recorded as a fixed asset.
Depreciation for tax purposes is at a rate of 4% per annum, and is usually calculated using the straight-line method. Real estate acquired for the purpose of re-sale is considered as "investment property". As such, it is non-depreciable and is subject to annual revaluation to the market value. In practice, it is often unclear in which situations a property should be treated as an "investment property" or a fixed asset.
more info >> /properties/Dir.asp?id=190
Last updated: Jan 2007
go topQ45: What is the amount of the Transfer Taxes for Bulgarian Property Bargain?
A45: Apart from corporate tax, no other direct taxes are levied on the transfer of real estate. However the transfer is subject to notary and municipal fees. Notary fees are paid on the higher of the market price or the book value of the property at varying rates, with the maximum being BGN 3, 500. In addition, 2% of the market value of the property is paid to the municipality in which the property is located.
more info >> /properties/Dir.asp?id=190
Last updated: Aug 2007
go topQ46: What kind of Local Taxes and Rates for property in Bulgaria I owe?
A46: The owner of a building or a plot is obliged to pay a real property tax. Where a building is built on a State or municipal plot, the value of the plot will also be included in the tax base. The tax is equal to 0.15% of the book value of the property. Arable land is exempt from local taxes. In addition to the real property tax, owners also pay waste-collection fees.
more info >> /properties/Dir.asp?id=190
Last updated: Aug 2007
go topQ47: Value Added Tax (VAT) for property bargain?
A47: Value Added Tax (VAT) - Transactions with land and lease of property for residential purposes are exempt from value added tax.
All other real estate transactions are subject to VAT at the uniform rate of 20% (will be changed after Bulgaria joins to EU). The buyer/lessee is entitled to a VAT refund, provided it is registered for VAT purposes.
more info >> /properties/Dir.asp?id=190
Last updated: Dec 2006
go topQ48: What is the current average salary in Bulgaria? In which fields are the greatest salaries?
A48: By national Statistical Institute average Bulgarian salary (legal) for September 2006 is 363 BGN (around 182 EUR). This is with 39 BGN more than January 2006. The high level of salary for September is in field of Financial brokerage (approximately1458 BGN).
go top Q49: Is it possible to use ATMs to get cash in Bulgaria and is there a charge for doing so?
A49: You can use ATM and can machines in all of the Bulgarian cities (in banks, supermarkets, big hotels, big shops, etc.), large villages and resorts, big chains of petrol/gas stations (like Shell, OMV, LukOil,
Petrol, etc.) and somewhere else. You will be charged and the fee depends on type of the card, on Bank issuer of the card and on the bank holder of the ATM or cash machine (the fee varies but it is approximately 2% - 2.5% but not smaller than 10 BGN)!
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