- Bulgaria is advancing in tax administration through digitalization, requiring businesses to adopt the Standard Audit File for Tax (SAF-T) starting in 2026
- The SAF-T framework, developed by the OECD, facilitates electronic data exchange between taxpayers and tax authorities and is already in use in countries like Romania and Ukraine
- From January 2026, large enterprises in Bulgaria must comply by submitting SAF-T files, with most other enterprises following by 2030
- Foreign businesses operating in Bulgaria may need to comply depending on their activities
- There is a six-month grace period for businesses to adjust to the new requirements
- Reporting details include monthly submissions of accounting entries, invoices, and payments by the 14th, annual asset-related data, and stock movement details upon request
- The scope of data required includes information on suppliers, customers, invoices, payments, stock movements, and assets
- The National Revenue Agency (NRA) will provide further guidance on specific reporting details
- The SAF-T framework aims to reduce administrative burdens by segmenting reporting by type and frequency
- Businesses must assess internal systems, upgrade technology, train employees, and consult tax advisors to prepare for SAF-T compliance
- Adopting SAF-T offers an opportunity to enhance transparency and efficiency in tax reporting, urging businesses to prioritize compliance planning to avoid penalties
Source: rtcsuite.com
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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.
