Bulgaria Enacts Tax Reporting Law for Crypto Service Providers Under EU Directive

The Bulgarian parliament has approved an amendment to the Tax and Social Security Procedure Code, which will require cryptocurrency service providers to report user information for tax purposes.

The amendment is in response to the European Union's (EU) DAC8 directive, which aims to standardize the automatic exchange of financial information between EU member states.

Crypto service providers will be required to submit user and beneficial owner information, including names, addresses, tax residence, taxpayer identification numbers, and dates of birth or place of birth, to the National Revenue Agency (NRA) by June 30th each year.

The first reporting period is set to begin on January 1st, 2026, with the first exchange of information between EU member states due on September 30th, 2027.