We can see across Europe different trends in terms of VAT reporting. Different ways, systems, methods, etc. In the case of Bulgaria, there have been rumors that Bulgaria is planning to introduce the standard electronic format for the exchange of accounting and financial data with the local tax authorities (SAF-T). It represents the joint project of a couple of institutions in Bulgaria, all in accordance with the National Revenue Agency, of course.
Here are further particulars...
SAF-T in Bulgaria?
Public
Bulgaria
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
568
Content accuracy validation date:
27.09.2023
Content accuracy validation time:
08:09h
This SAF-T method is already used in a couple of countries, but of course with different rules. Currently, the local tax administration, along with EY Bulgaria, is researching and preparing the implementation of the conditions for data collection and transmission in the unified format of SAF-T. It is planned that SAF-T will be introduced in phases, depending on the size of the business.
Importantly, the official date, legal framework, reported data, and mechanism for delivery of the files are going to be published by the authorities, probably at the beginning of 2024. Still, there are no official regulations, deadlines, or announcements.
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