Selurio · Blog
Capital Gains Tax on Shares in Bulgaria 2026 — How to Calculate It
You sell shares at a profit and ask yourself: do I owe tax, and how much? In Bulgaria the answer mainly depends on one thing — on what market the securities were traded. This article explains the framework as we understand it as of 2026, and shows you how to work out the net result in your head and with a calculator.
⚠️ This is educational material, not tax or investment advice. Tax rules change and depend on the specific case. Verify everything with the National Revenue Agency (NRA) (opens in new tab) or a licensed tax adviser before you declare anything or make a decision.
What is taxed and what is not
For individuals in Bulgaria, the framework you should check against the current Personal Income Tax Act (ZDDFL) is roughly the following:
| Case | Tax treatment (subject to verification) |
|---|---|
| Stocks/ETFs on a regulated EU/EEA market | The gain is usually exempt (0%) |
| Other capital gains (outside the EU/EEA, unregulated market) | Flat tax of ~10% on the gain |
| Dividends | Separate regime — final tax of ~5% |
The key distinction is a regulated market in the EU/EEA. If your stocks or ETFs are traded on such a market, the gain on sale for an individual is usually exempt from tax. Beyond that scope, the gain is as a rule taxed at the flat tax of around 10%.
Dividends are a separate topic — they are taxed under their own regime (around 5% final tax) and do not enter the capital-gains calculation below.
How the gain is calculated
The arithmetic itself is simple:
Gross gain = (sale price − purchase price) × quantity
From there:
- Tax base = the gross gain, but only if it is positive (a loss is not taxed).
- Tax due = tax base × rate. On a regulated EU/EEA market the rate is 0%.
- Net gain = gross gain − tax due.
Example: you buy 100 shares at €100 and sell them at €150. The gross gain is €5,000. If the trade is on a regulated EU/EEA market — the tax is 0 and you keep the full €5,000. If it falls into the taxable case at 10% — the tax is €500, and the net gain — €4,500.
Calculate your own case in the stock-gains tax calculator — switch between "a regulated market (EU/EEA)" and "another market" to see the difference right away.
And if I am at a loss?
A loss is not taxed — the tax base with a negative gain is zero, that is, the tax due is 0. Whether and how losses are offset against gains in the annual return is a separate question with its own rules — this is exactly the moment where it is worth asking the NRA or a consultant, rather than guessing.
What the calculator deliberately does not do
To stay honest, the tool does not include broker commissions, currency differences, fees, and the specifics of your particular case. It does not tell you "you owe exactly this much" — it gives an indicative educational estimate based on the documented framework. The final calculation for the return always goes through the current rules of the NRA.
This is also why the framework here (exemption for a regulated EU/EEA market, a 10% flat tax, 5% on dividends) is marked as subject to verification — it is verified against the current law, rather than taken as authoritative.
Continue reading
- Stocks, ETFs, and cryptocurrencies — the three main asset classes — what exactly you are selling and where it is traded.
- Compound interest — the eighth wonder of the world — why the after-tax gain you keep, reinvested, grows the fastest.
- All of Selurio's calculators — the tools for your analysis.
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