Introduction of new cash registers postponed by 7 months

Earlier on 26^th of February, Bulgaria’s Prime Minister met with the management of the Bulgarian Industrial Association, at their request, to discuss the new tax rules. They provide for a replacement of the fiscal devices and the commercial software of the companies in order for the NRA to have full access to the turnovers. At the meeting, the 7-month delay was granted to VAT-registered companies to introduce new computer sales management programmes. The finance minister said there would be no more postponements for the businesses, as there is concealment of turnover is entire industries.

There is a huge attempt to suppress turnover, which requires the introduction of the new tax rules, the finance minister, Vladislav Goranov, said after the meeting with the prime minister.

Initially, the new tax rules had to come into force at the end of March, but at the insistence of the industry, the finance minister delayed them until September, but only for VAT registered companies.

Until then, IT specialists need to design new computer sales management software, with which each payment will be reflected in real time on NRA's servers.

Vladislav Goranov, Minister of Finance: These; months should not be wasted in waiting for another period of seven months. I recommend that all IT professionals and developers, if they want to stay on the market for offering such software, use this time to develop the software instead of opposing the process.

The Industrial association said they supported all measures to bring light to the grey economy, but that it should not entail excessive administrative and financial burdens for the businesses that are not in the shadow economy.

And while the deadlines for the new fiscal rules are postponed by seven months for the large business, the deadline for replacing their cash registers remains 30 June for all traders not registered for VAT.