Bulgaria's National Revenue Agency issues foreign income declaration reminder

The Bulgarian National Revenue Agency (NAP) has issued a reminder to local individuals regarding the mandatory declaration of foreign income and assets acquired or held during 2025. This includes taxable income from abroad, as well as foreign real estate, shares, and company interests held as of December 31, 2025.

While the standard deadline for annual tax declarations was April 30, 2026, individuals who missed the deadline or need to correct previously submitted information have until September 30, 2026, to do so. The agency noted that through international information exchange, it receives data from foreign tax administrations regarding the income and property of Bulgarian residents.

To prevent double taxation, the agency highlighted that methods specified in bilateral tax treaties will be applied. In cases where no such treaty exists, a ‘common tax credit’ method is used, allowing taxpayers to deduct taxes already paid abroad from their Bulgarian tax liability, up to the amount of the Bulgarian tax due.