site.btaBulgaria, National Revenue Agency Highly Rated by OECD

Bulgaria has been rated as Largely Compliant by the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes (GFTEITP), the National Revenue Agency (NRA) said on its website on Monday.

The rating is contained in a report on a peer review of the implementation by Bulgaria of the standard on exchange of information on request (EOIR) which was conducted from December 2022 until February 27, 2024. The peer review report, which was published by the OECD on March 28, 2024, found that Bulgaria is an equal partner and participant in all international understandings concerning the exchange of information and mutual administrative assistance.

The GFTEITP promotes the implementation of the internationally agreed standard on Exchange of Information on Request (EOIR) and standard on Automatic Exchange of Information (AEOI). The Fund's 171 member jurisdictions commit to at least implement EOIR. Its mission is to implement the international standard through two phases of peer review process. It addresses tax evasion, tax havens, offshore financial centres, tax information exchange agreements, double taxation and money laundering. 

The international standard provides for exchange on request of foreseeably relevant information for carrying out the provisions of a tax convention or for the administration or enforcement of the domestic tax laws of a requesting party. The standard requires from jurisdictions to have information on the ownership of legal persons and other legal entities, accounting and banking information, to afford tax authorities access to this information and to exchange effectively exchange of such data with other jurisdiction concerned. The standard thus provides a basis for effective international cooperation in combating tax evasion, the press release explains.