Regulatory Alerts2013-09-11
Joint Interpretative Guidance on the Application of Ordinance No 28 Regarding Cross-Border Payment Declarations
The Bulgarian National Bank and the Ministry of Finance issued joint interpretative letters clarifying the practical application of Ordinance No 28 on cross-border payment declarations. The guidance mandates that payment service providers require individual declarations for each transaction, accept electronically submitted forms via internet banking, and permit certified copies or scanned supporting documents instead of originals. It further establishes that authorized representatives may sign declarations on behalf of companies, bilingual forms are permissible, and taxpayers only need to declare estimated tax liabilities without submitting proof of tax payment.
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