- Bulgaria is advancing a bill to implement EU Directives DAC8 and DAC9 on tax administrative cooperation.
- The bill introduces new reporting and information exchange requirements for crypto-assets, OECD Pillar Two rules, and updates to the common reporting standard (CRS).
- Automatic exchange of information will expand to include crypto-asset users and additional tax data on multinational and large domestic groups.
- Crypto-asset service providers must implement user due diligence by January 1, 2027.
- Penalties will be imposed for noncompliance with crypto-asset reporting obligations.
Source: globalvatcompliance.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.
Latest Posts in "Bulgaria"
- Bulgaria Proposes Zero VAT on Essential Foods Amid Inflation and Euro Adoption
- Bulgaria Considers Zero VAT on Essential Foods to Ease Inflation
- Bulgaria Proposes 0% VAT on Essential Food to Ease Inflation
- Bulgaria’s Tax Agency Notifies 1,085 Firms of New SAF-T Reporting Duty
- Bulgaria Advances DAC8 and DAC9 Tax Reporting Amendments
