- Introduction of SAF-T in Bulgaria: Bulgaria will implement mandatory Standard Audit File for Tax (SAF-T) reporting starting January 2026, aiming to enhance tax compliance and streamline data exchange between taxpayers and authorities. This XML-based file format will require businesses to submit various financial records.
- Submission Cadence: Businesses will be required to submit SAF-T reports with different frequencies: monthly submissions for general ledger entries, purchase and sales invoices, and payment records; annual submissions for fixed assets; and on-demand submissions for inventory details.
- Implementation Timeline: The rollout of SAF-T will occur in phases: starting with large enterprises in January 2026, expanding to medium and small enterprises by January 2027, and eventually encompassing all businesses, including micro-enterprises, by January 2030. A six-month grace period will allow taxpayers to correct submissions without penalties.
Source Sovos
Click on the logo to visit the website
Latest Posts in "Bulgaria"
- VAT in Bulgaria – A comprehensive up to date guide
- ECJ C-121/24 (Vaniz) – AG Opinion – Joint VAT liability requires existing debtor; no liability post-liquidation
- Simeon Dyankov Suggests Increasing VAT to 22% to Address Bulgaria’s Budget Deficit
- VAT Increase to 22% Aims to Address Bulgaria’s Budget Deficit, Says Simeon Dyankov
- Bulgaria Releases SAF-T Technical Documentation and Implementation Timeline for Enterprises
