The Executive Director of the National Revenue Agency (NRA) approved the country by country reporting format and procedures on October 31, 2017, by Order No. ЗЦУ-1410.
According to NRA, the ultimate parent entity, who is a resident for tax purposes in Bulgaria and under the annual financial statements on a consolidated basis, the amount of the LRU’s income is more than BGN 100,000,000 for the tax year prior the reporting tax year, has the responsibility to submit the CbC report to the National Revenue Agency (NRA). The first CbC report shall be submitted for year 2016 by December 31, 2017. This report has to be filed electronically and file format needs to be accepted by the Executive Director of NRA. Again, a parent company or a multiple enterprise under Art. 143z, para. 1 of the Tax and Insurance Procedure Code (TIPC) which is a resident for tax purposes of Bulgaria where the ultimate parent company of the LAG is not a resident of Bulgaria and the amount of the group’s revenues are more than BGN 1 466 872 500 (750 000 000 EUR) for the tax year preceding the reporting tax year.
