Businesses Registered for VAT Required to Change Fiscal Devices

By the end of the year, companies registered for VAT are required to change their fiscal devices, the National Revenue Agency (NRA) announced on 16th of February. The aim is to monitor trading operations in real time in order to disrupt tax evasion. The change will affect nearly 400,000 companies in Bulgaria.

The massive manipulation of cash registers, mostly by retailers, is the main reason for the replacement of the fiscal devices with new ones, the NRA explained.

Vassil Panov, the Head of Control Directorate at NRA says that over BGN 500 mln. Are the unpaid taxes by retailers, who use the so-called fiscal devices.

For not issuing a cash receipt or manipulating a cash register in 2017, the revenue agency imposed fines to the amount of more than BGN 20 million and 2,000 retail establishments were sealed.

NRA explained that the new devices put an end to the practice of monthly reporting. With the introduction of the new fiscal devices, each cash receipt issued will be reported in real time to the NRA.

Approximately 400,000 cash registers need to be replaced. Calculations show that BGN 120 million will be needed to replace all cash registers in Bulgaria.