March 8 (SeeNews) - The European Commission said on Thursday it has requested that Bulgaria bring its value-added tax (VAT) rules in line with EU law, specifically concerning companies trading in fuel and for non-business use of company assets.
Currently, small companies trading in fuel are obliged to provide excessive amounts of money in advance to guarantee their ability to pay their VAT bill, while big companies only need to deposit a guarantee of an amount equal to the VAT due for their transactions, the Commission said in its monthly package of infringement decisions.
In addition, the Commission asked Bulgaria to change its rules on how VAT due is calculated when business assets are used for private or non-business purposes and when business assets are transferred to another EU member state.
Bulgaria has two months to comply with the Commission's requests or the institution may send a reasoned opinion to the country.