Bulgaria: Introduction of new 5% penalty for late application of tax treaty relief requests


Clearstream Banking1 would like to inform customers that effective


the Tax and Social Security Procedure Code (TSSPC) in Bulgaria has been amended and it has been published in the State Gazette that investors who have not paid the tax, or have paid a lower amount of tax, without providing the respective Double Tax Treaty (DTT) documents and declarations required within the due deadline, a penalty of 5% on the unpaid tax amount will be imposed, but no more than BGN 15,000 (EUR 7,500). If there are repeated violations, the amount of the penalty increases to 10% of the unpaid tax amount, but no more than BGN 30,000 (EUR 15,000).

Further information

For further information, customers may contact Clearstream Banking Client Services, their Relationship Officer or Tax Help Desk.


1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.