- Introduction of SAF-T: Bulgaria has proposed a draft law mandating the submission of the Standard Audit File for Tax (SAF-T), set to enhance tax transparency and combat fraud, with implementation starting in 2025 and a rollout beginning in 2026 for large businesses.
- Phased Rollout Timeline: The SAF-T will be implemented in phases: starting January 2026 for large businesses with high turnover, expanding to medium-sized businesses in 2027, and eventually encompassing all businesses by 2030, with specific reporting obligations outlined for monthly and annual submissions.
- Reporting Requirements and Compliance: Businesses must submit monthly reports, including general ledgers and invoices, by the 14th of the following month, and annual reports on fixed assets by June 30. A six-month grace period will be provided for initial submissions to help businesses transition without penalties, emphasizing the importance of robust accounting systems to comply with the new requirements.
Source Edicom
Latest Posts in "Bulgaria"
- Bulgaria to Mandate SUPTO POS Software and GPS Tracking for High-Risk Goods in 2026 Budget
- Bulgaria Sets New Intrastat Thresholds for 2026: Export and Import Limits Announced
- Parliamentary Committee Approves VAT Law Amendments to Ease Small Business Tax Burden and Align with EU Rules
- Introduction of Special VAT Regimes for Small Enterprises
- Input VAT Deduction Allowed Despite Unknown Goods Origin from April 2025, Court Rules
