Retail chains in Bulgaria are actively preparing for the transition from the Bulgarian leva to the euro, focusing on regulatory coordination with the Ministry of Economy and the Commission for Consumer Protection. While the official date for the euro adoption remains unknown, businesses are gearing up for dual pricing labels starting in March, and discussions on fiscalization and other technical aspects are ongoing. The transition is expected to be a long and complex process, with inflation and other indicators being closely monitored to determine the timing.
Bulgarian retailers prepare for Euro transition
Public
Bulgaria
Author: Nikolina Basić
Category:
Fiscal subject related
Views:
272
Content accuracy validation date:
23.10.2024
Content accuracy validation time:
09:03h
Retail chains in Bulgaria are actively gearing up for the transition from the Bulgarian leva to the euro. Nikolay Valkanov, the executive director of the Association for Modern Trade, shared on Nova TV that ongoing discussions with relevant departments are focused on coordinating activities related to the euro's introduction. He emphasized the productive dialogue with the Ministry of Economy and the Commission for Consumer Protection, noting that the regulatory framework established by the previous Parliament has largely satisfied businesses. This framework provides clarity on requirements such as dual pricing labels, fiscal receipt designations, and other technical matters crucial for traders' operations. Valkanov acknowledged that the transition will be a long and complex process.
It is important to mention that the official date for the Euro has not yet been known, and the regulations from the different sectors, fiscalization included, are still missing. But certainly, Bulgaria is in the preparation phase for the transition.
Valkanov highlighted that several indicators are being monitored to determine the timing of the transition from leva to euro. "From March, we should have dual price indications in stores. However, this also hinges on the specific date that will be set," he explained. He pointed out that to achieve a favorable convergent report, the final criterion regarding inflation must be formally met. It is also stated that the regulatory framework, established by the previous Parliament, largely meets business needs by clarifying the rules for dual price labeling, fiscal receipts, and other technical aspects essential for retailers. However, he stressed that the transition process will be long and complex.
These preparations and discussions underscore the significant efforts being made to ensure a smooth transition to the euro, aiming to provide stability and clarity for both businesses and consumers in Bulgaria.
Other news from Bulgaria
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
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
VIDA regulation adopted—what does that mean for business?
Public
Author: Nikolina Basić
The EU adopted the VAT in the Digital Age (ViDA) package on March 11, 2025, introducing major changes to the VAT system starting January 1, 2027. Key reforms include mandatory digital VAT reporting by 2030, new VAT collection rules for online platforms, and expanded One-Stop Shop (OSS) registration to simplify cross-border compliance. Additional measures, such as mandatory e-invoicing, phasing out... 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
Bulgaria launches nationwide euro adoption campaign this month.
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
Bulgaria is launching a nationwide campaign this month to educate citizens and businesses on the euro adoption process, backed by a 10 million leva budget from the Ministry of Finance. The campaign aims to address concerns, highlight benefits, and ensure a smooth transition to the eurozone. Bulgaria is launching a nationwide campaign this month to educate citizens and businesses on the euro adopti... Read more
Checking the validity of the fiscal receipt via mobile app in Bulgaria
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
The Bulgarian National Revenue Agency (NRA) has launched the NRA Mobile app, allowing consumers to verify the authenticity of fiscal receipts by scanning their QR codes. The app provides key details about the purchase and enables users to report discrepancies directly to the NRA, enhancing transparency and tax compliance. The National Revenue Agency in Bulgaria (NRA) has introduced a power... Read more
Bulgaria formally requests convergence reports for euro adoption.
Public
Bulgaria
Author: Nikolina Basić
Bulgaria
Author: Nikolina Basić
Bulgaria has formally requested convergence reports from the European Central Bank (ECB) and the European Commission to assess its readiness for euro adoption. These reports, expected within two to three months, will evaluate Bulgaria’s compliance with economic and monetary criteria but will not provide a final decision. The government remains confident in meeting the necessary conditions for tran... Read more