Find general guidance about taxes and requesting tax statement when using Wise Interest.
When you turn on Interest, you’re investing in units in an accumulating money market fund. You can see more information about the funds here.
If you're a tax resident in Bulgaria, you may need to pay income tax on your Wise fund income.
Income tax may become due when you dispose of units in the fund and you realise a gain — through spending, sending, converting or simply moving money within Wise or to an external account. This will trigger Wise to sell units in the fund, known as disposing.
Filing a tax return
Bulgarian tax residents may need to file Personal Income tax returns to report foreign fund units held irrespective of whether they receive any income and/or realise capital gains.
You can find more information at the Republic of Bulgaria Ministry of Finance website.
If you're a sole trader using Wise Interest passively, the guidance above may also apply to you.