Doing business in Bulgaria? Then you need to know the ins and outs of proper invoicing. This guide provides a comprehensive overview of invoice requirements in Bulgaria for 2024, ensuring your business stays compliant.
(Update: This article was originally published in 2012 and has been revised in October 2024 for accuracy and to reflect current legislation.)
Essential Elements of a Bulgarian Invoice
Every invoice issued in Bulgaria must include the following key elements:
- Invoice Name: Always clearly label the document as “Invoice” (Фактура).
- Unique Invoice Number: Assign a unique, consecutive 10-digit number using Arabic numerals (e.g., 0000000001). You can use different number series for different aspects of your business, such as separate branches or projects.
- Date of Issue: The date the invoice is created.
- Supplier Information:
- Full legal name of your business
- Full business address
- Unique identification code (UIC/BULSTAT)
- VAT registration number (if your business is VAT registered)
- Recipient Information:
- Full legal name of the customer
- Full customer address
- Unique identification code (UIC/BULSTAT) of the customer
- VAT registration number of the customer (if registered)
- Description of Goods/Services: Provide a clear and specific description of the goods or services being sold.
- Quantity and Unit Price: State the quantity of goods sold and the price per unit.
- Tax Base: The total value of the goods or services before VAT is added.
- VAT Rate: The applicable VAT rate (e.g., 20%, 9%, 0%).
- VAT Amount: The calculated amount of VAT.
- Total Amount Due: The final amount to be paid by the customer, including VAT.
- Date of Supply/Payment: Indicate the date the goods or services were provided or the date of payment, if different from the invoice date.
Recent Changes and Important Notes
Keep these updates in mind to ensure your invoices remain compliant:
- E-invoicing: Bulgaria is transitioning to mandatory e-invoicing. Stay informed about the latest developments and prepare your systems for this change.
- No Signature/Stamp: Signatures and stamps are no longer required on invoices.
- Foreign Currency Invoices: If you invoice in a foreign currency, clearly state the BGN equivalent using the Bulgarian National Bank exchange rate on the invoice date.
Useful Tips for Bulgarian Invoicing
- Timely Issuance: Issue invoices within 5 days of providing the goods/services or receiving payment, whichever comes first.
- Clear Payment Terms: Specify payment deadlines on the invoice (e.g., “Payment due within 30 days”).
- Penalties for Errors: Inaccurate invoices can result in penalties, so double-check all details.
- Maintain Records: Keep copies of all invoices for at least 10 years.
- Simplified Invoices: For transactions under BGN 250, you can issue simplified invoices with fewer requirements.
Stay Updated
Invoicing regulations in Bulgaria are subject to change. To ensure your business remains compliant and avoids potential penalties, it’s crucial to stay informed about the latest updates.
- Consult with your accountant: Your accountant can provide personalised guidance and ensure your invoicing practices align with current legislation.
- Visit our website: We regularly publish updates on Bulgarian accounting and tax regulations on our website. Check back often for the latest information.
- Contact us: Have questions or need assistance with your invoicing? Our team of experts is here to help. Contact us today for a consultation.
I have just opened a businesses in Bulgaria.
I am issuing my first invoice and I would like to know if I can use a number like:
2012092701
meaning the date 2012 09 27 (year month day) then for which service it is 01.
any information would be helpful
thank you
Unfortunately the structure you mention for the invoice numeration is not acceptable according to the Bulgarian Accounting Act. The numbers shall be consecutively and if you use year, month, date, then you will breach this rule. It should be 10-digits consecutively number, not only the last 2 digits. It can be 2012092701 but then the next shall be 2012092702, etc. Then the effect from what you want is gone as on the next day you have to use the year, month, date you started with.
Don’t forget it’s a requirement by Bulgarian law to use an invoice generating software. You are also required to have the first invoice generated in Bulgarian language and the second can be in English language.
I have an export company established in Bulgaria and I issue all invoices using Microsoft Word programm and keeping record in PDF format. One copy goes to the customer together with the pack.list and Cmr and one to my accountant. All documents are in English language. Is this way ok or I need an invoice generating software?
Your accountant needs the invoices in Bulgarian language, this is compulsory. It is no problem to make them in word, but be sure that you keep the numbering right. Your accountant should be able to tell you how it works exactly.
Hi,
Do the accounting records need to be stored in Bulgarian language too? here I do not refer to the content of the invoice, but the software package instead. If I kept all of my book keeping in English in a good accounting software, is this acceptable and legal ?