site.btaParliamentary Finance Committee Proposes Fines Up to BGN 1 Mln for Price Speculation during Dual Pricing Period

Traders who engage in unfair price-setting practices during the period of dual pricing of goods and services in lev and euro risk to face financial penalties ranging from BGN 5,000 to BGN 1 million, according to proposed amendments to the Introduction of the Euro in the Republic of Bulgaria Act, submitted on Monday between the first and second readings. The proposals were tabled by parliamentary Budget and Finance Committee Chair Delyan Dobrev (GERB-UDF), Jordan Tzonev (Movement for Rights and Freedoms -New Beginning), and Denitsa Nikolova (GERB-UDF).

Under the proposals, fines for dishonest pricing between August 8, 2025, and the end of 2026 will depend on the duration and severity of the violation, as well as the turnover of the business involved.

Legal entities and sole proprietors may face fines from BGN 5,000 to BGN 100,000, with repeat offenders liable for sanctions between BGN 10,000 and BGN 200,000. For businesses with an annual turnover exceeding BGN 50 million, the fine may be calculated as a percentage of turnover, up to 0.5%, or up to 1% for repeated offenses. In all cases, the penalty cannot exceed BGN 1 million.

The proposed amendments also introduce new obligations for large retailers. Those with annual turnover above BGN 10 million will be required to publish, by 7 a.m. each day, the final retail prices of all key consumer basket items on their websites in machine-readable format. The initial draft of the bill required weekly publication of prices.

The Commission for Consumer Protection (CCP) will establish the methodology and maintain a public online portal that will display daily price movements based on the data provided by retailers.

The proposed changes revise the provision concerning responsible pricing. The new text states that during the dual pricing period, businesses must set prices transparently and in good faith. Upon request, they must provide regulatory authorities with documents proving the existence of objective economic factors for any price changes. This replaces the original wording, which prohibited unjustified price increases unless supported by objective economic reasons.

The definition of "objective economic reasons" is also updated to include external, documented changes in production, delivery, storage, and sales costs, as well as legal changes, force majeure, and other factors with a direct and significant impact on cost.

The amendments further introduce a definition of "essential goods," including bread, milk, eggs, electricity, water, household heating, and prescription medicines. In cases of "sharp and significant" price increases of such items, the Council of Ministers may introduce temporary measures, including impact assessments, duration, and accountability mechanisms.

Several MPs submitted proposals seeking to scale back or remove some of the bill’s provisions. A proposal by Assen Vassilev (Continue the Change – Democratic Bulgaria) and a group of MPs calls for the removal of the provision prohibiting unfair price increases by traders. It also proposes removing the texts granting the National Revenue Agency and the CCP powers to request information from traders, as well as the newly introduced fine levels and the Council of Ministers' authority to impose temporary measures.

Another proposal, submitted by Tsoncho Ganev (Vazrazhdane) and a group of MPs, calls for a minimum five-working-day deadline for businesses to comply with data requests from regulators. It also proposes that the Council of Ministers may take temporary action only with Parliament’s approval. A further proposal by Ganev and MP Georgi Hrisimirov calls for the complete removal of the provision allowing the Council to impose temporary measures.

A proposal by Sevim Ali (Alliance for Rights and Freedoms) and a group of MPs seeks to remove the requirement for retailers to publish prices of medicinal products online, citing strict regulations in pharmaceutical retail and the fact that pharmacies are not required by law to maintain websites.

The amended bill, initially submitted by the Council of Ministers, is scheduled for a second reading by the Budget and Finance Committee on Tuesday. The deadline for submitting proposals between the first and second readings expires on Monday.