Fiscal subject related
The initial VAT reduction was scheduled to conclude on June 30, 2024, but with the acknowledgment of persistent economic challenges, the government has opted to extend this tax relief for an additional six months. This decision is a component of a larger strategy aimed at fostering economic stability and shielding the most vulnerable groups from the escalating costs of living.
By diminishing the tax load on essential food items, the government aspires to deliver substantial relief to consumers, thereby contributing to the nation's overall economic fortitude. Furthermore, the Bulgarian parliament has sanctioned a series of additional VAT rate reductions and extensions:
- Restaurant and Catering Services: The VAT rate for restaurant and catering services will be maintained at a reduced rate of 9% until December 31, 2024. This represents a year-long extension beyond the original end date of December 31, 2023.
- Tourist Services and Sports Facilities: The preferential 9% VAT rate applicable to tourist services and the use of sports facilities will now be extended until June 30, 2024, instead of concluding at the end of 2023.
These measures reflect the government's proactive approach to alleviating the financial pressures faced by its citizens and ensuring that Bulgaria remains economically resilient during challenging times.
Other news from Bulgaria
Will Bulgaria adopt the euro by January 2026?
Bulgaria is on track to adopt the euro by January 1, 2026, as it meets key Maastricht criteria, including inflation stabilization, a low debt-to-GDP ratio, and a manageable budget deficit. Economic experts highlight ongoing preparations despite political challenges, with inflation consistently below 3% and other macroeconomic indicators aligning with eurozone requirements. If euro adoption is not... Read more
New document was uploaded: S4F backoffice patch
S4F backoffice patch is intended for users who have already installed S4F backoffice and are intended to update existing installations to latest version. To do so apply only patches that are marked with version number that is newer than your currently installed instance of backoffice. Read more
The List of Goods with High Fiscal Risk is being updated in Bulgaria.
Effective January 1, 2025, Bulgaria will implement an updated List of Goods with High Fiscal Risk under Order No. ZMF-1800/23.12.2024, aligning with the EU’s 2024 Combined Nomenclature. Read more
Draft SAF-T legislation published in Bulgaria
Bulgaria has published draft legislation for mandatory Standard Audit File for Tax (SAF-T) reporting, expected to take effect in 2025. The phased implementation begins in 2026, starting with large enterprises, and will gradually expand to all VAT-registered businesses by 2030. Read more
SAF-T digital tax compliance in Bulgaria
Bulgaria's adoption of the Standard Audit File for Tax (SAF-T) will begin in January 2026 for large enterprises, with phased implementation extending to all taxpayers by 2030. SAF-T compliance mandates regular electronic submissions of detailed tax and accounting data, including monthly records, annual asset data, and stock movements upon request. Read more
Bulgaria and the Euro: Integration with the Instant Payment System
Bulgaria is advancing its euro adoption plans with integration into the Eurosystem's TIPS service, enabling instant euro payments within ten seconds, 24/7. This step supports Bulgaria's National Plan for adopting the euro, with additional payment service providers expected to join TIPS in 2025. Read more
Important notice from Bulgaria: transition to New NRA Electronic Services Portal
The National Revenue Agency of Bulgaria has published an important notice: starting Monday, December 9, 2024, the redirection from the old National Revenue Agency (NRA) electronic services portal at https://inetdec.nra.bg/ to the new portal will be discontinued. After this date, all users must access NRA's electronic services exclusively at https://portal.nra.bg/. For nearly three years, the old p... Read more