discussion board

Rental tax

stefan Author: posts : 6   (Beginner)Date : 01-01-10 12:52

Rental tax

Just received a statement for renting out my Bulgarian appartment last Summer. It shows a 10% deduction for rental tax. Is this a Government tax / has anyone had similar experience?
stefan Author: posts : 6   (Beginner)Date : 01-06-10 03:14

info for apartment owners

I got a reply off another forum and I thought apartment owners would be interested to see this - as below

Everyone who earns an income in Bulgaria is liable to 10% income tax on all they earn and this applies to rental earnings as well.
Gary Author:Gary posts : 1701   (Master)Date : 01-06-10 11:17

re: Rental tax

Did you think that there is no tax to pay on rental income?

Once you have paid Council Tax, Maintenance Charges, Repair Bills, Electricity & Water, Bills, Possible Mortgage/Loan, & INCOME TAX, You can keep whatís left

With the costs of flight only, it is not much more expensive to get a package deal

Good Luck

stefan Author: posts : 6   (Beginner)Date : 01-06-10 11:44

re: Rental tax

hi Cary

I knew that rental income tax was to be paid to Britain but not to Bulgaria AS WELL.

Don't you own several apartments?
Gary Author:Gary posts : 1701   (Master)Date : 01-06-10 11:57

re: Rental tax

Hi Stefan

I am purchasing 6 apartments in Bulgaria

I have completed on 1, the other 5 are due to be completed in May 2006 (Thatís Bulgaria for you)

I have no intentions of letting any of them out, more trouble than itís worth

stefan Author: posts : 6   (Beginner)Date : 01-06-10 13:30

re: Rental tax

Gosh 2006, I hope they get built and the developer doesn;t do a "Dubai"

Many people bought apartments in Bulgaria because they were cheap to buy and run, the latter is no longer the case!

Good luck with your investment.
Best price