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 currency period, etc.
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?
Public
Bulgaria
Author: Nikolina Basic
Category:
Fiscal subject related
Views:
274
Content accuracy validation date:
27.08.2024
Content accuracy validation time:
08:11h
Don’t forget, that this change will affect VAT Act, Ordinance No. 18 important for fiscalization, fiscal receipts will be changed, and fiscal devices will also be changed. All of these are discussed many times in our previous news.
If we analyze the draft law for Euro, we can see in its transitional and final provisions that, within three months from the entry into force of this law for Euro, the Minister of Finance needs to submit the regulation under Art. 118, para. 4 of the Law on Value Added Tax in accordance with the law, determining:
- the conditions and manner of registering and accounting for sales and/or canceling the operations of goods and services by issuing a fiscal receipt or another document registering the payment in euros;
- the conditions and manner of announcing the final amount in the issued fiscal receipt in levs and in euros during the period of double indication of the prices of goods and services
- the functional and technical requirements for fiscal devices and integrated automated systems for managing commercial activity in connection with the introduction of the euro;
- the submission of data to the National Revenue Agency;
- all other changes arising out of and in connection with the performance introduced by the new law
The law of the euro will also change other acts (besides the VAT Act), such as commercial law, the Consumer Protection Act, the Law on the Activities of Collective Investment Schemes, the Law on Financial Instruments Markets, the accounting law, the Tax and Insurance Procedural Code, the Law on Corporate Income Taxation, the Social Security Code, the Law on Guaranteeing Deposits in Banks, the Law on Measures Against Money Laundering Tourism Act, the Currency Law, and others.
Other news from Bulgaria
Slovenia: EU Targets Unsafe E-Commerce Imports with New Measures
Public
Author: Ivana Picajkić
The European Commission is tightening regulations on e-commerce imports to address the surge of unsafe and counterfeit goods, particularly from China, by reforming customs rules and increasing product safety checks. Key measures include removing the duty exemption for low-value parcels, introducing a potential customs fee, establishing priority control areas, and launching an EU-wide product safet... Read more
New document was uploaded: S4F backoffice patch
Author: Kristina Dosen
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
New document was uploaded: S4F backoffice installer
Author: Kristina Dosen
S4F backoffice installer is intended for users who are installing the software for the first time. Please make sure to obtain latest version of installer and to apply all subsequent patches that are released subsequently. This package contains instruction, release notes, changelog and software packages required for deployment of this software component. This version of the Backoffice installer supports the following countries: Austria, Bulgaria, Croatia, France, Italy, Poland, Portugal, Romania, Slovakia and Slovenia. Read more
National Revenue Agency of Bulgaria: new version of a software product for generating VAT reports and similar documents
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
The Bulgarian National Revenue Agency has released a new version of its software for generating VAT reports, returns, and VIES declarations, including an installation package for Windows users. The update aims to simplify VAT reporting, and a comprehensive user guide is available to help users navigate the new features. The Bulgarian National Revenue Agency published the latest update regarding a... Read more
Bulgaria Prepares for Eurozone Entry by January 1, 2026, Amid Ongoing Challenges
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
Critics highlight insufficient public communication about Bulgaria's planned euro adoption, leaving many citizens unaware of its practical benefits. With the new target date of January 1, 2026, approaching, the government faces pressure to launch an effective campaign and better prepare the public for the transition. Bulgaria is set to join the Eurozone on January 1, 2026, according to an analysis... Read more
Will Bulgaria adopt the euro by January 2026?
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
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
Author: Kristina Dosen
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