What is VAT? Invoice VAT Explained
Value Added Tax (VAT) is a consumption tax applied at each stage of production and distribution. In Bulgaria, the standard rate is 20%, with a reduced rate of 9% for certain goods.
VAT on Bulgarian Invoices
Bulgarian invoices must display: Данъчна основа (tax base), ДДС (VAT amount, typically 20%), Обща сума (total), and ЕИК / ИН по ЗДДС (VAT ID). NeuralParse extracts all of these automatically.
VAT Rates Across Europe
VAT rates vary: Bulgaria 20%, Germany 19%, France 20%, Romania 19%, Greece 24%. NeuralParse detects the rate from each invoice automatically.
FAQ
How does NeuralParse handle different VAT rates on one invoice?
VAT is extracted at both invoice and line item level. Each line item shows its specific rate.