Over 6,000 Taxpayers File returns in First Week of 2025 Tax Campaign
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The 2025 Tax Campaign is off to a strong start, with nearly 6,000 taxpayers filing their returns in the first six days alone. The campaign, which officially began on January 10, has seen more than half of filers opting to use the National Revenue Agency’s (NRA) electronic services portal to declare their income and claim tax benefits. this digital shift highlights the growing preference for online tax filing among Bulgarian citizens.
Taxpayers aiming to reduce their total annual tax base for 2024 are required to fill out Tax Benefits and Refunds: What You Need to Know
This year, individuals who earned taxable income in 2024 can take advantage of various tax benefits to reduce their tax burden. If these benefits result in a refund, the NRA processes payments within one month of submission, though most refunds are issued within a week. Though, taxpayers must ensure they have no outstanding public obligations subject to enforcement before claiming these benefits. To avoid delays or complications,the NRA recommends checking for liabilities using the Statement of Obligations with the Possibility of Making Payments service. This online tool allows users to verify their Personal Identification code (PIC) and address any outstanding dues before filing. the NRA anticipates heightened interest in Key Highlights of the 2025 Tax Campaign
| Aspect | Details | The 2025 Tax campaign is shaping up to be a landmark year for digital tax filing in Bulgaria. With streamlined processes and significant tax benefits on offer, the NRA is encouraging taxpayers to file early and utilize online tools for a hassle-free experience. For more information on filing your taxes or checking your obligations, visit the NRA’s official portal today. Don’t miss out on the opportunity to claim your benefits and secure your refunds promptly!Bulgaria Introduces New Tax Reliefs for 2024: What You Need to Know In a move aimed at easing financial burdens and encouraging responsible spending, Bulgaria has introduced a series of tax reliefs for 2024. These measures, designed to benefit a wide range of citizens, from young families to individuals with disabilities, offer significant opportunities to reduce annual tax liabilities. Here’s a breakdown of the key reliefs and how you can take advantage of them. Homeowners can now benefit from a tax relief for repairs and/or improvements made to their primary residence in 2024. Payments for labor up to BGN 2,000 qualify for a tax discount of up to BGN 200.To claim this relief, homeowners must provide documents certifying the payment for labor. This initiative not only supports household maintenance but also stimulates the local economy by encouraging spending on home-related services. Young families looking to purchase their first home can substantially reduce their annual tax base through a mortgage interest relief. This applies to the interest paid on the first BGN 100,000 of the principal on a mortgage loan. To qualify, couples must be married, with at least one spouse under 35 years of age at the time of signing the mortgage agreement. Additionally, the property must be exclusively for family use. This relief aims to make homeownership more accessible for younger generations. Individuals with a reduced working capacity of 50% or more are eligible for a tax base reduction of BGN 7,920. This measure provides much-needed financial support to those facing challenges in the workforce, ensuring they retain more of their income. Taxpayers who make personal contributions for supplementary voluntary insurance can reduce their annual tax base by up to 10%. This includes contributions for voluntary health insurance and premiums for life insurance contracts. Similarly, those who purchase insurance services upon retirement can also deduct the amount of their contributions from their tax base. These incentives encourage citizens to invest in their long-term financial security. Generosity pays off in 2024. Individuals who make donations to organizations such as the National Health insurance Fund, cultural institutions, hospitals, or social homes can reduce their tax base by up to 65%. To claim this relief, donors must attach copies of documents certifying the donation’s receipt and the recipient’s status to their annual tax return. This initiative not only supports vital causes but also rewards philanthropic efforts. The National Revenue Agency (NRA) has detailed the conditions for each tax relief on its official website and Facebook page. For further clarification, taxpayers can contact the NRA Information Center at 0700 18 700 or 02 9859 6801, or via email at [email protected]. | Tax Relief | Eligibility Criteria | Maximum Benefit | These tax reliefs represent a significant step toward supporting Bulgarian citizens in various stages of life. Whether you’re renovating your home,planning for retirement,or contributing to a worthy cause,these measures offer tangible financial benefits. Don’t miss out—explore the NRA’s resources today to ensure you’re maximizing your tax savings in 2024. Bulgaria has also introduced a tax relief for education and training expenses. Individuals can deduct up to BGN 1,000 per year for expenses related to their own or their children’s education,including tuition fees,textbooks,and training courses. This initiative aims to promote lifelong learning and skill development, making education more affordable for families. Taxpayers who make charitable donations to registered non-profit organizations can deduct up to 5% of their taxable income. This relief encourages philanthropy and supports the work of non-profits in addressing social, cultural, and environmental issues. To take advantage of these tax reliefs, taxpayers must file their annual tax returns and provide the necessary supporting documents. The National Revenue Agency (NRA) has streamlined the process thru its electronic services portal, making it easier for citizens to claim their benefits and receive refunds promptly. The 2024 tax reliefs in Bulgaria reflect the government’s commitment to supporting families, individuals with disabilities, and those investing in their homes, education, and future. By leveraging these opportunities, taxpayers can significantly reduce their annual tax liabilities while contributing to their personal and community well-being. For more details on how to claim these reliefs or to file your taxes online, visit the NRA’s official portal. Don’t miss out on these valuable benefits!
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| Filing Start Date | January 10, 2025 |
| Early Filers | Nearly 6,000 in the first six days |
| Preferred Filing Method | Over 50% used the NRA electronic services portal |
| Key Form | Home Repairs and Improvements
Support for Young Families
Relief for individuals with Disabilities
Voluntary Insurance Contributions
Donations with Tax Benefits
How to Access These Benefits
Key Tax reliefs at a Glance
|—————————————–|—————————————————————————————–|———————————–|
| Home Repairs/Improvements | Payments for labor up to BGN 2,000 | BGN 200 tax discount |
| Mortgage Interest for Young Families | Married, at least one spouse under 35, home for family use | Reduction on first BGN 100,000 |
| Reduced Working Capacity | 50% or more disability | BGN 7,920 tax base reduction |
| Voluntary Insurance Contributions | Up to 10% of contributions for supplementary, health, or life insurance | 10% tax base reduction |
| Donations | Donations to approved organizations (e.g.,hospitals,cultural institutions) | up to 65% tax base reduction |
Ir taxable income by up to BGN 3,400 annually. This relief encourages individuals to invest in their future financial security while reducing their immediate tax burden. To claim this benefit, taxpayers must provide proof of their voluntary insurance contributions.Education and Training Expenses
Charitable Donations
Key Takeaways
How to Claim These Reliefs
Final Thoughts
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