Fiscal subject related
Martin Dimitrov from "We Continue the Change - Democratic Bulgaria" (WCC-DB) emphasized the importance of this mandate to prevent potential refusals from the European Commission. Asen Vassilev from WCC-DB added that if Bulgaria meets the price stability criterion by the end of 2024, the ministry should request to join the Eurozone by July 1, 2025. Vassilev assured that both the European Commission and the ECB would respect such a request. But still, there are no official dates, deadlines, and other related information about adopting the euro as official currency.
Upon joining the Eurozone, Bulgarian bank accounts will automatically convert to euros. For one month, citizens can shop using both leva and euros to ease the transition. The dual-currency period is limited to avoid the logistical challenges of businesses maintaining two cash registers. Bulgarian currency can be exchanged for euros without commission for six months at the Bulgarian National Bank (BNB), commercial banks, and post offices. After this period, only the BNB will offer commission-free exchanges.
Other news from Bulgaria
New document was uploaded: Law on the introduction of the euro in the Republic of Bulgaria (BG)
The purpose of the law is to determine the general requirements of the process of introducing the euro as an official currency in Bulgaria. The law has been voted by the national ambassador, and official introductions are still pending; after that, the other deadlines can be determined. The law has been voted, although Bulgaria has not yet met the criteria for joining the Eurozone, which is one of the most important conditions. Read more
New document was uploaded: Law on the introduction of the euro in the Republic of Bulgaria (EN)
The purpose of the law is to determine the general requirements of the process of introducing the euro as an official currency in Bulgaria. The law has been voted by the national ambassador, and official introductions are still pending; after that, the other deadlines can be determined. The law has been voted, although Bulgaria has not yet met the criteria for joining the Eurozone, which is one of the most important conditions. Read more
Bill for Amendments and Supplements to the Law on Payment Services and Payment Systems in Bulgaria
In accordance with the procedures for introducing the Euro as an official currency in Bulgaria, the state institutions are working on other related laws and regulations, step by step. Therefore, during the public consultations is introduced a draft regulation of the Law on Amendments and Supplements to the Law on Payment Services and Payment Systems, which proposes amendments that aim to prepare p... Read more
More details about the Law of the Euro in Bulgaria
As a reminder, the adaptation of Law on Euro was published at the end of August. We advise you to read more to stay focused on this topic. Read more
New education was created: Educational videos for Bulgaria
Welcome to our comprehensive overview of fiscalization in Bulgaria. We covered the legal requirements (fiscalization requirements, fiscal devices, business processes, etc.) and technical aspects (transactions, our service, and other technical-related topics) necessary for compliance. In this series of videos, we delve into various topics essential for businesses operating within the Bulgarian land... Read more
What regulations are still expected to be published after the Law of Introduction Euro is accepted by the Bulgarian Parliament, important for retail and fiscalization?
As we stated in our previous news, At the end of July and beginning of August, the Bulgarian Parliament approved the regulations for replacing the lev with the euro, even though Bulgaria has not yet met the criteria for joining the Eurozone. But still, there are no official publications of the Law of the Euro, no dates when the Euro will be only a legal tender, how long will last the double curren... Read more
EU to protect domestic e-commerce sellers with a cross-border tax reform
As online shopping continues to grow, the European Union is planning to implement new regulations to protect local e-commerce sellers. One significant change affects consumers who shop on international platforms like Temu or AliExpress. The EU has already taken some steps at the first sign of growing foreign e-commerce sellers, and since July 1, 2021, all goods entering the EU, regardless of their... Read more