site.btaParliamentary Committee Approves Unified Financial Reporting System to Ease Business Burden

The parliamentary economic policy committee approved at second reading amendments to the Statistics Act, introducing a centralized system for submitting annual financial and statistical reports by businesses in Bulgaria.

The bill, proposed by MPs Delyan Dobrev and Nikolay Nankov of GERB-UDF, envisages the creation of a new information system called a single entry point. This platform will streamline the process of submitting annual activity reports, including statistical forms, accounting documents, and financial statements.

The reform aims to modernize the financial reporting process, reduce the administrative burden on businesses, and improve the quality and accessibility of data in line with EU directives.

The system will be developed and maintained by the National Statistical Institute (NSI) and will serve as a centralized data portal for NSI, the National Revenue Agency (NRA), and the Registry Agency.

The Single Entry Point is expected to become operational on January 1, 2026. The proposal received strong support, with 13 MPs voting in favor, none against, and three abstentions. It was backed by representatives from GERB-UDF, Continue the Change–Democratic Bulgaria, MRF–New Beginning, Velichie, and MECh.

Committee Deputy Chair Alexander Ivanov (GERB-UDF) emphasized the need for swift implementation, stating that the goal is for Bulgarian businesses to benefit from the streamlined reporting process as soon as possible.

MP Bogdan Bogdanov (Continue the Change–Democratic Bulgaria) also supported the 2026 timeline, noting that easing the administrative burden is a major concern for both investors and local businesses. He added that his party is open to compromise if objective obstacles arise.

An alternative proposal by MP Petar Kanev (BSP–United Left) to delay the system’s launch to January 1, 2027, was not approved.

NSI President Atanas Atanasov supported the later date, citing the need for sufficient time to build and test the new system. He explained that since annual reports are submitted beginning January 1 for the previous calendar year, launching the platform in 2027 would align it with the 2026 reporting cycle.