Fiscal subject related
However, according to banks and other institutions in Bulgaria, in the months before the introduction of the euro, citizens will be encouraged to deposit as many levs (BGN) banknotes and coins as possible in bank accounts. Considering that all BGN funds on the accounts will be converted free of charge into Euros on the date of the introduction of the Euro, starting from that day, cashless payment transactions will be carried out only in Euros. Also, there is information that, from the date of introduction of the euro, the Bulgarian National Bank (BNB) will exchange for free, in an unlimited quantity and without a time limit, banknotes and coins from levs into euros at the official exchange rate of BGN 1.95583 for 1 euro. During the first six months from the date of the introduction of the euro in Bulgaria, banks and "Bulgarian Posts" EAD will exchange banknotes and coins from levs into euros at the cash desk free of charge at the official exchange rate, says the BNB.
Then, in the next six months, banks will continue to exchange banknotes and coins from levs to euros, but they will have the right to charge a fee for this service. After the expiration of the first 12 months of the introduction of the euro, banks and "Bulgarian Post" EAD may suspend the service for exchanging banknotes and coins from levs to euros in cash.
Other news from Bulgaria
Bulgarian and Euro coins
At the meeting of the Coordination Council for Bulgaria's preparation for Eurozone membership, the artistic projects for the design of the Bulgarian national side of the euro coins introduced the following: 1 euro cent; 2, 5, 10, 20, and 50 euro cents; 1 euro and 2 euros. They will be used when the euro becomes the official currency in Bulgaria, which is expected to be in 2025, most likely. As sta... Read more
Fiscal risk goods: Bulgaria has published a description for the submission of data.
As we have introduced before, a special declaration will be required in Bulgaria for so-called fiscally risky goods. On the NRA website, there have been published XSD schemes and a description of the format and structure of the data for reporting these kinds of goods, all of which are for the use of the electronic service. "Provision of a unique number for the carriage of goods with a high fiscal... Read more
Implementation of the ViDA directive faces delays
The European Commission's ambitious plan to modernize and digitalize the EU's value-added tax (VAT) system has been postponed by two years and possibly more after facing resistance from some member states and businesses. The VAT in the Digital Age (ViDA) initiative, which was proposed in December 2022, aimed to introduce a series of measures to reduce VAT fraud, simplify VAT compliance, and promo... Read more
An updated communication strategy for Bulgaria's accession to the Eurozone was adopted
The Coordinating Council for the Preparation of the Republic of Bulgaria for Eurozone Membership adopted at its meeting the updated Communication Strategy for Information and Publicity of the country's accession to the Eurozone. The update plans the phases of the campaign, taking into account the changed perspective for Bulgaria's membership on January 1, 2025, adding a number of new communication... Read more
The Bulgarian National Revenue Agency introduces a regime for mandatory advance declaration of data on the transportation of goods with high fiscal risk
The Ministry of Finance in Bulgaria has introduced a regulation on the terms and conditions for implementing fiscal control over the movement of goods with a high fiscal risk on the territory of the Republic of Bulgaria. The regulation is already in force. Let's find out who it refers to. 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. Please make sure to install all available patches sequentially (without skipping). For each patch it is specified for which countries it is released for and with this information and with information from release notes user should prioritize the installation of the patch if S4F Backoffice is used in specified countries. Even though the patch may be prioritized for specified countries please make sure to install all patches sequentially, including the previous ones (if any) even if they are not related to used countries. This package contains instruction, release notes, changelog and software packages required for deployment of this software component. Please note that this patch contains changes for following country: Italy. Read more