Spaska Petkova

Master degree in Finance.

Works as an accountant since 01/2005.

Develops and acquires financial and accounting experience in a number of large companies. Currently leading financial – accounting for ten entities, including Creditchoice Ltd

Tax relief for young families who have withdrawn credit for their first home:

Local individuals can enjoy tax relief for young families deducting the sum of the annual tax bases under Art. 17 of the APIA from the interest payments made during the year on a mortgage credit for home-purchase when the following conditions are present:

  • the mortgage credit agreement is concluded by taxable person and/or by the spouse with whom he/she has a civil marriage;

  • the taxable person and/or the spouse is not over 35 years of age at the date of the conclusion of the mortgage credit agreement;

  • mortgaged home is the only home for the family during the tax year.


The tax relief shall be used up to the amount of the annual tax bases under Art. 17 of the APIA under the condition that the taxable person presents a written declaration by the spouse that he will not benefit from the tax relief for the tax year in question.

All these circumstances and conditions are declared by the person in annex 10, which is an integral part of the Annual Tax Return.

The relief can be used by local individuals, as well as by foreign individuals established for tax purposes in a country- member of the European Union or country – party to the Agreement on the European Economic Area, for interest payments made during the year on the first 100 000 leva of the principal on a mortgage credit.

The tax relief can be used only by submitting an annual tax return to which a document issued by the creditor bank must be attached, certifying the amount of the interest payments made during the year for the first 100,000 leva of the principal of the mortgage home purchase credit.

All this for free!


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