THE BOOK “TAXATION OF NGOs” IS UPDATED AND PUBLISHED IN A NEW PRINT

The issue “Taxation of NGOs” has been updated, supplemented and printed in a new edition. The book is a publication of the Bulgarian Center for Not-for-Profit Law (BCNL) issued with the support of the Open Society Institute – Sofia.

The publication was printed in 2004 for the first time in order to describe the acting by that time tax regime for NGOs. It incorporated questions and answers on the general duties of all taxable persons, as well as on the sanctions for their violation, taxation of economic and non-profit activities, the taxes at the source and the patent tax, the taxation of donations and donors and different types of local taxes and fees. All the copies of that edition were exhausted because of the huge interest, and that provoked the new edition of the book.

The author of the new edition, Mitko Stoykov, legal counsel in chief of Directorate “Tax and social security methodology” by the National revenue agency has put efforts on presenting a full description of taxation of NGOs in Bulgaria. The new book covers the matters included in the previous edition, but they are organized in a new manner and are enriched with new examples. Key part of the new edition is the explanation of the new moments in the tax framework for NGOs for 2006, regarding the amendments to the substantial tax laws, the adoption of the Tax and social security procedure code, respectively the changes in the registration procedure of the legal entities for taxation purposes.

The BCNL’s ambition is the book to serve as a valuable handbook for the NGO managers and financial experts, as well as for tax officers. This way BCNL hopes to enable the creation of unified taxation practices in the country.