Bulgaria: What Taxpayers Need to Know After the Euro Changeover
The annual campaign for filing personal income tax returns under Article 50 of the Personal Income Tax Act is underway
The Finance Minister, Assen Vassilev, refuted any connection between ongoing tax inspections at numerous Austrian companies and Austria's recent rejection of Bulgaria's Schengen accession. Vassilev clarified that the inspections involving a large Austrian food chain and a petrol station were part of regular fiscal risk assessments mandated by the goods declaration regulation.
Reports circulating in the media suggested a potential correlation between the tax checks and Bulgarian business representatives' call for a boycott of Austrian goods following Vienna's decision on Bulgaria's Schengen membership. However, Vassilev explicitly dismissed these claims, highlighting that the inspections were unrelated to the diplomatic issue.
Moreover, Vassilev emphasized that, in response to Vienna's request, specialized inspections were being conducted on goods traveling to and from Austria at external borders. This process, albeit initiated by diplomatic discussions, caused delays, leading to tensions between the two nations.
The annual campaign for filing personal income tax returns under Article 50 of the Personal Income Tax Act is underway
The Bulgarian National Bank reported that as of February 6, 2026, the withdrawal of lev banknotes and coins and their replacement with euro cash is progressing in line with the applicable legislation and the operational plans approved for the transition.
From February 1, 2026, Bulgaria officially completes its transition to the euro, which now serves as the country’s sole legal currency.
Bulgaria is facing rising living costs, with service prices still climbing, according to economists. Authorities have already flagged the most frequent violations of the Law on the Euro since the start of the year, largely in the form of unjustified incre
Bulgaria is moving forward with the transition to the euro, preparing to produce its first euro banknotes under the quota assigned by the European Central Bank.
Bulgaria is set to issue a new batch of government bonds, with the Ministry of Finance confirming preliminary terms for an upcoming auction through the Bulgarian National Bank
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