Bulgarian officials find 65 breaches of Euro Adoption Act at shops in two months
Of 546 retail chains and shops inspected in two months, National Revenue Agency inspectors and Consumer Protection Commission officials found that at 65, prices had increased without objective economic reasons, a violation of the Euro Adoption Act, according to a revenue agency statement.
The December 16 statement said that nine of the traders had been issued with fines, to a total of 45 000 leva.
The statement said that the inspections had been carried out from the beginning of October to the present.
Amendments to the Euro Adoption Act approved by Parliament earlier this year gave businesses a two-month grace period, up to October 8 to get in line with the regulations. Bulgaria will use the euro as its currency as of January 1 2026.
During that period, revenue agency teams carried out inspections, not imposing fines, but giving guidance to traders on the necessary actions they must take to ensure that their cash registers meet legal requirements.
After the expiration of this period, sanctions began to be imposed if a violation of the regulatory requirements related to the introduction of the single European currency was established, the statement said.
During inspections, the officials requested documents on the origin of the goods, data related to suppliers, delivery and final selling prices, delivered and sold quantities, turnover, costs, among other things.
In 306 of the stores, the inspections are still ongoing, and it is necessary for the traders to provide information to the revenue agency within the specified period, the agency said.
In addition to unjustified price increases, during each inspection of a commercial establishment carried out by the revenue agency, fiscal inspectors also monitor whether the receipt issued indicates the total amount of the purchase in euros and leva, as well as the BNB’s fixed exchange rate of the leva against the euro.
The agency said that from October 9 to the present, the revenue agency has drawn up more than 20 statements of violations for incorrect reflection of the two values in the cash receipts.
(Photo: Bartosz Wacawski/ freeimages.com)
For reliable official information on Bulgaria’s transition to the euro, the Association of Banks in Bulgaria has a Q and A, in English.
The official evroto.bg website has an English-language version, while the European Commission made available on July 8 a Q and A on Bulgaria’s changeover to the euro.
For exclusive subscriber-only access to The Sofia Globe’s analysis and commentary on events in Bulgaria, please sign up to our page on Patreon:
