SAF-T (Standard Audit File for Tax) is an international standard developed by the Organizations for Economic Co-operation and Development (OECD) for the electronic exchange of accounting data. From 2026, Bulgaria’s largest financial institutions are required to submit structured accounting data under the SAF-T standard - and the timelines are tighter than most organizations realize.
For banks, this is not a future problem. It is an immediate operational challenge.
Why banks are in the first wave
Bulgaria’s phased rollout begins with its most complex reporting entities - large taxpayers and financial institutions - precisely because the stakes are highest there.
Banks manage some of the most fragmented data environments in any industry. Core banking systems, ERPs, CRMs - each holds a piece of the financial picture. SAF-T requires all of it to speak the same language, in a format regulators can audit in real time.
The standard does not just raise the bar on reporting. It redefines what data readiness means.
Facing the real-world hurdles of digital tax reporting
The path to compliance is rarely straightforward. Most institutions hit the same obstacles early.
Legacy infrastructure is the first barrier. Older systems were not built for the speed and structure that modern digital reporting demands. Extracting clean, consistent data from them is rarely simple.
Data harmonization is the second. Reconciling dozens of different formats and sources into a single compliant structure requires more than technical skill — it requires a clear methodology and the time to apply it carefully.
Traditionally, tax reporting in large organizations has been a reactive process that relies on manual actions and multiple systems. With the implementation of Sirma’s solution, the process becomes fully automated and centrally managed.
And time is exactly what many organizations are short on. The delayed rollout of the regulation has compressed preparation windows significantly. What should have been an 18-month project for some institutions has become a six-month sprint.
The Sirma Solution
To simplify this transition, Sirma Group has developed a specialized SAF-T solution designed specifically for the Bulgarian regulatory landscape. Our platform features a modular architecture that integrates smoothly with core banking and ERP systems. It is built to automate the most demanding tasks - data extraction, transformation, and validation - while maintaining rigorous quality controls. This ensures that the final output is perfectly aligned with the NRA’s technical requirements.
The implementation follows a structured methodology that covers the full compliance journey:
- Business Analysis: Comprehensive audit of existing systems and data landscapes.
- Data Mapping: Defining precise pathways to the SAF-T structure.
- ETL Preparation: Setting up automated data flows.
- Validation & Testing: Rigorous testing against NRA requirements.
- Regulatory Adaptation: We actively support the 12-month “correction period” proposed by the NRA, allowing for adjustments to previous files and adaptation to evolving regulatory changes.
Working with sensitive financial information requires uncompromising security. Security was built into the architecture from the start, not added later. The solution provides a secure environment, strict access control, and full compliance with GDPR and the institution’s internal policies.
Why financial institutions stand to gain
For financial institutions, the primary advantage is a significant reduction in regulatory risk and the avoidance of non-compliance penalties. By automating the reporting process, banks can lower their long-term operational costs and respond much faster to tax inquiries. Beyond mere compliance, the standardized data generated for SAF-T can be reused internally for advanced analytics and Business Intelligence, turning a regulatory obligation into a strategic asset.
Looking toward a fully digitized future
The National Revenue Agency has outlined a clear multi-year rollout, starting with the largest market players - a transition for which Sirma has already developed deep technical and regulatory expertise to ensure a seamless adaptation.
From 2026, SAF-T applies to large enterprises with annual revenues exceeding 300 million BGN or tax and social security liabilities over 3.5 million BGN. By 2028, the scope expands to businesses with revenues above 15 million BGN or liabilities over 1.5 million BGN. By 2029, all SMEs are included. By 2030, every VAT-registered entity in Bulgaria falls under the mandate.
Sirma’s experience extends well beyond banking. Across retail, manufacturing, healthcare, logistics, and the public sector, we have built the cross-industry expertise to support SAF-T implementation for nearly any type of organization - at any stage of the rollout. As the mandate expands to new categories of taxpayers in the years ahead, that breadth becomes increasingly relevant.
Regardless of your sector or current reporting category, the transition to structured digital tax reporting is an inevitable shift. The organizations that prepare early will face it on their own terms.
