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Monthly VAT declarations companies file to the National Revenue Agency (NRA) can now only be submitted online when the purchases or the sales of the firm for the respective month are more than five.
The new rule is part of amendments to Bulgaria's Value Added Tax Act which enter into force on January 01, 2012.
To facilitate the mandatory electronic submission of these documents, the revenue authority has stipulated a one-month grace period, meaning that the new regulations will apply to VAT declarations for January 2012 which are to be filed by February 14, 2012.
NRA reminds that companies must have an e-signature to use the service.
If the companies lack a digital signature, they can authorize another firm which has such a certificate, for instance an accounting firm, to submit declarations on their behalf using the Internet.
NRA data shows that over 80% of the approximately 210 000 VAT-registered traders submit VAT documents electronically.
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