Live pre-clearance invoicing to help reduce the VAT Gap
The Bulgarian National Revenue Agency has opened a public consultation on the implementation of e-invoicing. Any implementation date is unlikely to be before 2023. This follows the successes in Italy, Hungary and plans for Poland and France in 2023 to 2026.
Currently, Bulgaria permits e-invoicing by agreement between customers and suppliers only.
Bulgaria is likely to follow the pre-clearance model, obliging taxpayers to submit draft sales invoices to the tax authorities for live validation and acceptance. Only then can a valid VAT invoice be passed to the customer. The outcome of the consultation and proposed scheme are expected to be published before the end of 2021. In addition to e-invoices, Bulgaria is likely to introduce certified VAT cash registers for secure online reporting of retail transactions to the tax office on a real-time basis.
The ongoing EU VAT in the Digital Age proposals includes a strand around harmonised transaction-based reporting across the member states. This originated from the 2020 Tax Package measures for a fairer and more efficient EU tax regime.
Check VAT Calc’s global live VAT invoice transaction and e-invoice reporting tracker to see where else real-time submissions of invoices is being implemented. Our VAT Calculator tax engine can provide instant global VAT or GST calculations for your e-invoicing or real-time reporting obligations.
Europe e-invoicing and live reporting