- Bulgaria is set to adopt the euro on 1 January 2026, pending final approval by the Council of the EU on 8 July 2025.
- This adoption would make Bulgaria the 21st Member State of the euro area.
- The 2025 Convergence Report confirms Bulgaria meets all EU nominal convergence criteria.
- Bulgaria’s legal framework aligns with EU and ESCB requirements.
- Euro adoption means tighter integration into the EU monetary framework and changes for cross-border trade, financial reporting, and VAT compliance.
- Key changes for businesses include currency transition from the lev to the euro, requiring price recalculations, contract reviews, accounting updates, and POS system upgrades.
- A short dual circulation period is expected, with both the lev and euro used in parallel until mid-2026.
Source: vatit.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
