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Bulgaria ×
Nov 22, 2024

SAF-T implementation in Bulgaria: Better transparency and efficiency

SAF-T, developed by the Organisation for Economic Co-operation and Development (OECD), is an international standard for the unified exchange of accounting and tax data. It has already been implemented in countries such as France, Romania and Portugal, where the standard has proven effective in improving transparency and reducing administrative burden. The SAF-T format covers key accounting data such as complete accounting history, invoices, assets, receivables and payables, which are submitted in a standardised XML format. The implementation of SAF-T in Bulgaria The project "Increasing voluntary compliance through the implementation of SAF-T in Bulgaria" is funded by the European Union and aims at a complete digitisation of the tax administration. Large enterprises will have to adapt by th