Wealth Abroad: 3,600 Bulgarians Declare Overseas Holdings

Business » PROPERTIES | June 5, 2024, Wednesday // 11:17
Bulgaria: Wealth Abroad: 3,600 Bulgarians Declare Overseas Holdings @Pexels

Publicly available information from the National Revenue Agency reveals that 3,604 Bulgarian residents have properties abroad, all of which have been duly declared to the agency.

Bulgarians own properties across various countries in the Balkans and the European Union. Additionally, some citizens take pride in owning properties in less commonly chosen destinations, including Andorra, Argentina, Armenia, and others.

Following the deadline for tax return submissions, data from the National Revenue Agency highlights that 927 Bulgarians reported an income exceeding BGN 1 million (EUR 511,371) last year. Notably, among the affluent individuals, one person stands out with a reported personal income surpassing 70 million BGN (EUR 35,796,032).

The primary source of wealth for the wealthiest Bulgarian individual stems largely from the sale or exchange of shares and other financial assets.

During the recent tax campaign, which concluded on April 30, over 742,000 individuals and identical traders submitted tax declarations. Among them, 20,247 people earned more than BGN 100,000 (EUR 51,137), with 1,228 individuals earning over half a million BGN (EUR 255,685).

Additionally, 514 Bulgarians reported an income ranging between 750,000 (EUR 383,528) and 1,000,000 BGN (EUR 511,371), while 4,710 individuals earned between 250,000 (127,842) and 500,000 BGN (EUR 255,685)) for the year.

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Tags: properties, Bulgarians, tax

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