- Bulgaria is set to adopt the accounting Standard Audit File for Tax (SAF-T) in phases, starting in 2025
- Implementation will be conducted over five years, starting with large taxpayers
- Businesses will need to submit monthly reports detailing information from the general ledger, purchases, sales, and payments
- Implementation phases include pilot testing, mandatory reporting for large taxpayers, inclusion of medium-sized businesses, expansion to small businesses, and inclusion of micro-enterprises
- A grace period of 6 months is granted to taxpayers for compliance in each phase
- SAF-T is a standardized data format developed by the OECD to streamline tax information exchange between businesses and tax authorities.
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
