Bulgaria introduces mandatory SAF-T reporting with amendments to the Tax and Social Security Procedure Code, promulgated on 27 March 2025.

The implementation is phased over a five-year period starting with large enterprises, gradually onboarding medium and small enterprises and ending in 2030 when micro-enterprises registered for VAT purposes will also join. The SAF-T report, an OECD-standardized format, will include accounting data, information for sales, purchases and payments as well as information on fixed assets and inventories. Deadlines align with those applicable for VAT and CIT returns, with penalties for non-compliance ranging from BGN 5,000 to BGN 30,000.

KPMG in Bulgaria offers tailored solutions for SAF-T implementation: from data mapping, data extraction and conversion followed by in-house generation of SAF-T reports, to full outsourcing of the SAF-T compliance process. Find out more: https://bit.ly/4iTlD1d