Bulgaria Prepares to Implement SAF-T Starting in 2026
Bulgaria has introduced a draft law mandating the submission of the Standard Audit File for Tax (SAF-T), which is expected to take effect in 2025. The National Revenue Agency (NRA) has adopted SAF-T as part of its strategy to enhance tax transparency and combat fraud.
The rollout of SAF-T will commence in 2026, starting with large businesses, followed by medium-sized businesses in 2027, and extending to all taxpayers by 2030.
Electronic Invoicing Timeline in Bulgaria
- January 2026: Large businesses with turnover exceeding 300 million BGN in 2023 or taxes above 3.5 million BGN.
- January 2027: Large, medium, and small businesses with turnover exceeding 300 million BGN in 2024 or taxes above 3.5 million BGN.
- January 2028: Large, medium, and small businesses with turnover exceeding 15 million BGN in 2025 or taxes above 1.5 million BGN.
- January 2029: Mandatory for all businesses, regardless of size or turnover.
- January 2030: Mandatory for small-scale businesses as well.
SAF-T Reporting Requirements
The tax authority has outlined several obligations regarding SAF-T reporting. These requirements are categorized by their frequency and type:
Monthly Reports
Businesses are required to submit the following accounting documents monthly:
- General Ledger: A comprehensive record of all financial transactions, organized by account.
- Accounts Payable and Receivable: Details of outstanding debts to suppliers and amounts receivable from customers.
- Purchase and Sales Invoices: A detailed record of all commercial transactions, including income from sales and expenses from purchases.
Submission Deadline: These documents must be submitted by the 14th of the month following the relevant accounting period.
Annual Reports
In addition to monthly reports, companies are required to submit information related to their fixed assets:
- Fixed Assets: Includes details of the company’s long-term assets, such as properties, machinery, vehicles, and other resources not intended for direct sale but essential to operations.
Submission Deadline: This information must be submitted by June 30 of the year following the relevant fiscal period.
Reports Upon Request by the Tax Authority
In certain cases, the tax authority may request additional information. Specifically:
- Inventory: A detailed account of goods and materials on hand at the close of a fiscal period. This report is required only when formally requested.
To facilitate the transition to these new reporting requirements, a six-month grace period has been established for the first submission of the required reports. During this period, companies can familiarize themselves with the procedures and formats without the risk of penalties, provided that all deadlines are adhered to after this initial phase.
Complying with SAF-T reporting requirements is crucial to avoid penalties and ensure accounting transparency. Businesses are advised to adopt robust accounting management systems capable of efficiently generating these files within the required timeframes.
