On 4 August 2020, Bulgaria amended the Tax and Social Security Procedure Code by extending the deadlines for DAC2 (CRS) and DAC6 reporting frameworks.
The DAC2 (Common Reporting Standard (CRS)) reporting deadline for financial institutions in respect of information concerning the taxable period 2019 is extended from 30 June 2020 to 30 September 2020.
The DAC6 reporting deadlines are extended as follows:
|Reporting time framework||Deadline|
|mainstream reporting (30-day period to report new cross-border arrangements)||the period commences on 1 January 2021 (currently, 1 July 2020)|
|historical reporting (reportable arrangements from 25 June 2018 to 30 June 2020)||28 February 2021 (currently, 31 August 2020)|
|first periodic reporting of marketable arrangements (reportable arrangements between 1 July 2020 and 31 December 2020)||first reporting by 30 April 2021 (currently, the law requires recurrent reporting after every 3 months)|
The extension is based on Directive (EU) 2020/876 that amends the Directive on Administrative Cooperation (DAC) allowing EU Member States an option to defer the time limits for DAC2 and DAC6 reporting.
For the text of the Bill, see here (in Bulgarian only).