Claiming VAT back via Limited Company

[yam600]

Has anybody experienced buying an apartment in Bulgaria then setting up a limited company to claim the 20% vat back. Is this legal and has anybody completed this process.

Seems that developers are now offering this, however some lawyers say it's illegal.

 

[ladybird2011]

Not just a case of setting up a company, but you would need to be VAT registered which involves doing monthly account submissions here in Bulgaria and usually only if your turnover is more than 50,000 levs (I think). And take into account the amount of VAT you would be claiming back versus the cost of setting up a company (200 Euros minimum) plus ongoing accountancy for company (maybe 50 E a year) and importantly many developers sold apartments on tax evaluation price so very little VAT to claim back or sold without VAT.

 

[yam600]

Do you know anybody who can set a company up for 200E, that's cheap. Can you pass the details on.

Thanks.

 

[ladybird2011]

The lawyer I use charges 220 Euros. PM for details. Wouldn't bother setting up a company just to claim VAT back though.

 

[KayJay]

Just take a look on UK fleabay!