SAF-T for Bulgaria
On July 4, 2022, the NRA announced the implementation of a 24-month (about 2 years) project to introduce the use of SAF-T.
It is planned that SAF-T will be introduced in phases depending on the size of the business. The official date, legal framework, reported data, and mechanism for delivery of the files will be published by the authorities in 2024. This indicates a likely launch of 2025 for the largest taxpayers.
How KGT can provide support?
- KGT has developed for Bulgaria an SAP add-on, and KGT can demo the features, including risk management tools or
- KGT's support is particularly beneficial when a web-based provider is selected. These providers often lack standard E2E solutions, leading to the need for costly consultancy work. However, KGT has developed extraction logic that ensures complete tax data is provided to the vendor's cloud portal environment. This not only saves costs but also enhances data security. Additionally, KGT offers optional functionalities within SAP itself, allowing for data analysis checks before submission, further reducing the risk of non-compliance or
- KGT gets operational for its client's SAP Document Reporting and Compliance (DRC) or
- KGT developed a 'tax engine and cockpit' in the cloud that can be connected to your ERP system, regardless of whether you run SAP.
