Implementation of International Accounting Data Collection Standard SAF-T Enters New Phase in Bulgaria

• Implementation of the international standard for collecting accounting data from taxpayers SAF-T is progressing
• Plan approved for administration to prepare for reform implementation
• Next steps include drafting a law amendment for public discussion, technical support, and training
• New method aims to improve trust between tax agency and clients through transparency and standardization
• Standard developed by OECD and already implemented in several countries
• Benefits include better communication, risk management, reduced administrative burden, and increased compliance
• Implementation in Bulgaria will be phased, starting with large and medium taxpayers
• More information available on the National Revenue Agency’s website.

Source: nra.bg

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.

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