The news about changing the official currency to EUR appeared a couple of months ago, but still, there is no precise information about that process. Certainly, it will change a large number of regulations, and it will affect all businesses. As we have stated before, this change will also affect fiscalization rules, from both, legal and technical perspective. It will require changes in the POS, and in the fiscal printer, changes will be made to receipts, reports, and other documents.
What is the timeline for changing currency into EUR in Bulgaria?
Public
Bulgaria
Author: Kristina Dosen
Category:
Fiscal subject related
General information
Views:
848
Content accuracy validation date:
24.01.2023
Content accuracy validation time:
14:53h
Therefore, although there are still no official dates, meetings are being held between the National Revenue Agency, the Bulgarian Institute of Meteorology, and producers of fiscal devices. The discussions are in relation to what has to be changed/adapted in the fiscal devices (and when), in order for the latter to comply with the requirements in the actual framework for the introduction of the euro. That is very important, because the initial plan is to switch to a new currency in 2024, and there is not enough time. We will see if there are going to be some postponements in the timeline because the official law has not been published yet, the whole law procedure is a bit long, the public debate is still pending, and new general elections still need to be scheduled. Also, that will affect publishing new regulations, not only in fiscal terms but in other ways too. According to available information, the public debate is expected to end in the middle of February 2023, assuming everything goes as planned. In terms of fiscalization, certain acts must be available a few months before 2024 in terms of the technical requirements for fiscal devices, as well as changes in the VAT law and Ordinance No. 18 as to the main fiscal-related laws. Of course, we will monitor all changes, so stay tuned.
Other news from Bulgaria
What is the currency conversion and rounding rule regarding the euro as an official currency in Bulgaria?
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
Bulgaria’s conversion from levs to euros follows strict rules using a fixed exchange rate expressed with five decimal places, without rounding or truncation. Converted amounts are then rounded to two decimal places based on standard rounding rules, unless specific legislation requires otherwise. The process of converting Bulgarian levs to euros leads to strict guidelines to ensure accuracy and con... Read more
Bulgaria finalizes designs for national euro coins.
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
The Bulgarian National Bank has finalized the national designs for Bulgaria’s euro coins, featuring culturally significant symbols like the Madara Horseman, St. Ivan Rilski, and Paisius of Hilendar. All coins include mandatory EU elements such as the 12 stars, the word "BULGARIA" in Cyrillic, and the year "2026," with the 2-euro coin bearing a unique edge inscription: “GOD PROTECT BULGARIA.” These... Read more
The National Revenue Agency (NRA) begins implementation of the international accounting standard SAF-T in Bulgaria.
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
Bulgaria’s National Revenue Agency (NRA) has launched the phased implementation of the international SAF-T standard for digital tax reporting, starting with large taxpayers in January 2026. Draft technical guidelines will be published in May 2025, followed by a six-month pilot beginning in July with select large enterprises. Over the next five years, the SAF-T requirement will gradually expand to... Read more
What is New in the Draft of Ordinance No 18 Regarding Fisal Devices in Bulgaria?
Bulgaria
Author: Nikolina Basić
A new draft law (Ordinance No. 18) was released last week, outlining updated fiscal device regulations in preparation for Bulgaria’s euro adoption. The proposal introduces extensive new requirements, especially for gas station software and IASUTD systems, including rules for e-receipts, currency conversion, fiscal reports, and device homologation. Read more
Bulgarian National Bank Clarifies Eurozone Accession Process Regarding Introduces the Euro as an Official Currency in Bulgaria
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
The Bulgarian National Bank (BNB) has released the second part of its Q&A series on Bulgaria’s upcoming eurozone entry, focusing on eurozone governance and monetary policy. Key changes include a shift to the ECB’s monetary framework, reduced reserve requirements for Bulgarian banks, and increased capital contributions to the ECB. The BNB continues its public education campaign to ensure a smooth a... Read more
TLv6 Implementation Marks Significant Shift in EU’s Trust List Format
Public
All countries
Author: Ivana Picajkić
A new EU Trust List format, TLv6, will officially replace TLv5 in May 2025 as part of the updated eIDAS Regulation (EU 2024/1183). It introduces key technical changes like a new URI field, updated signature format, and optional phone number support. Organizations must update their systems to avoid signature validation failures and service disruptions, as TLv5 will no longer be valid once TLv6 take... Read more
The Draft Ordinance No. H-18 of 2006 on Registering and Reporting Sales in Retail Outlets Through Fiscal Devices, the Requirements for Software for Their Management and Requirements for Perso
Bulgaria
Author: Nikolina Basić
The Bulgarian Ministry of Finance has released a draft amendment to Regulation No. H-18, introducing significant updates related to fiscal devices, software requirements, and electronic sales, now open for public consultation. Read more