Several news stories about Bulgaria's adoption of the euro as its official currency have been published by us in recent months. Although we provided some potential timeframes and standards, there are yet no official rules, laws, or dates.
Is adoption of the euro as an official currency in Bulgaria postponed?
Public
Bulgaria
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
794
Content accuracy validation date:
01.03.2023
Content accuracy validation time:
15:20h
In relation to that, there has been some unofficial information from the Ministry of Finance in Bulgaria. According to how it is stated, Bulgaria will not submit the application form for admission until February 23, as originally planned. The postponement became clear at the last meeting of finance ministers in Brussels a few days ago. The reasons are the current inflation situation and not fulfilling certain time frames for the adoption of mandatory legislation. The Ministry also stated that the submission of the mandatory form can happen later this year if we succeed in passing the laws, which means that the date for a possible adoption is moved by one year, from January 1, 2024, to January 1, 2025. But we need to point out that this is not an official date. This is all in relation to Bulgaria's expected entry into the Eurozone.
Also, from another perspective, certain aspects of this major project are in progress from a legislative perspective and certain acts are being performed by the National Bank of Bulgaria, which will be introduced soon, so stay tuned.
Other news from Bulgaria
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
Bulgaria Outlines Exchange Process for Levs After Euro Adoption
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
As Bulgaria prepares to adopt the euro, the Bulgarian National Bank has introduced a permanent, free and unlimited exchange service for converting levs to euros at the official rate, with no expiration date. During the first six months, banks and post offices will also handle exchanges under specific conditions, including daily limits and advance notice for larger amounts. Lev banknotes and coins... Read more
Eurozone countries welcome Bulgaria's progress towards adopting the euro.
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
Eurozone member states have praised Bulgaria's progress toward meeting euro adoption criteria, acknowledging its efforts to align with eurozone accession standards. They now await a forthcoming assessment by the European Commission and the European Central Bank on Bulgaria's readiness to join. Eurozone member states have commended Bulgaria's advancements in meeting the criteria necessary f... Read more