Advice On buying property in Bulgaria

Need advice from fellow purchasers or sellers? Ask the experts here and swap experiences.

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MOONLIGHT

Postby MOONLIGHT » Thu Aug 20, 2015 5:19 pm

hi.
1.is this your sole residence?
2. is this your first sale in Bulgaria?
3. are you over Bulgarian pension age?
4. are you selling property to another company, or an individual?
5. have you asked for independent legal (Bulgarian) advice?

( 1-4, are relevant, with that info, then go to 5)

regards

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Mat
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Postby Mat » Thu Aug 20, 2015 6:47 pm

toaster wrote:hi I brought my property set up company 2006 I have been told what I payed for it in 2006 and what I sell for this year the difference in between is taxable is this correct or not thanks


Look at the post two above yours. If you don't believe it, pay 50 leva to a lawyer and ask them.

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mike4727
<b>Property Management</b>
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Location: RAKITNIKA nr VARNA & SOFIA
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Postby mike4727 » Thu Aug 20, 2015 7:34 pm

MOONLIGHT wrote:hi.
1.is this your sole residence?
2. is this your first sale in Bulgaria?
3. are you over Bulgarian pension age?
4. are you selling property to another company, or an individual?
5. have you asked for independent legal (Bulgarian) advice?

( 1-4, are relevant, with that info, then go to 5)

regards


The first four questions are simply not relevant to the OP who has stated that he has a property owned by his BG company. The only relevant question is number 5. If the answer is no then take the advice of Mat and buy some piece of mind by taking professional advice, it will be cheaper in the end.

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Seedy
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Location: Sofia/Dupnitsa/Lincs/

Postby Seedy » Thu Aug 20, 2015 8:17 pm

Mikesofia wrote:I am hoping to clear 20k profit on what i paid for the property as i bought it 15 years ago.

It is a 2 bed apartment fully furnished i just want to know what tax is payable as any agent i contact cannot give me straight answers


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MOONLIGHT

Postby MOONLIGHT » Thu Aug 20, 2015 9:03 pm

Correct Mike, sorry mikesofia, my mistake, didn't engage brain.
go direct to 5.

regards

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BJ
<b>Property Sales</B>
Posts: 203
Location: UK/Sofia

Postby BJ » Fri Aug 21, 2015 12:05 pm

From the original OP it would appear that the house is owned by a company. In this case the company is subject to profit tax rules. Seek advice from a Bulgarian accountant who can do the required reconciliation of profit and loss for you. In any case you should have been doing this every year and submitting your accounts to the Targovsky register!

BJ


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