Bulgaria: reporting and declaration of transactions

Reporting and declaration of transactions

The minimum amount of the total receivables from and obligations to foreign persons with regard to commercial loans and other transactions, which are not financial loans that must be declared, is increased from BGN 50,000 to BGN 200,000 or its foreign currency equivalent.

There is an obligation to submit to the BNB statistical forms for quarterly reporting of the operations with foreign persons related to services, remuneration and gratuitous revenues and payments when this has been requested in writing by the Deputy Governor in charge of the Banking Supervision Department or a person authorized by them.

The deadline for submitting the quarterly reports to the BNB has been extended until the 20th day of the month following the reporting quarter (the deadline for the report for the 4th quarter is 25 January), except for the reports related to granting/receiving financial loans where the deadline remains unchanged – until the 15th day of the respective month.

The Ordinance introduces an obligation for annual reporting with statistical forms to the BNB in relation to direct investments in real estate abroad. Reporting on a monthly basis is required in the case of real estate transactions between local and foreign persons.

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