Everything You Need to Know About the Introduction of the Euro

With Bulgaria’s anticipated entry into the Eurozone, on January 1, 2026, significant changes are coming that will affect all citizens and businesses.

In accordance with the Law on the Introduction of the Euro in the Republic of Bulgaria and the National Plan for Euro Adoption, this page provides reliable and practical information. Here, you will find everything essential about the transition stages, legal and operational obligations, and specific guidelines for adaptation – both for individuals and for organizations and companies.

KEY DATES

Date of Euro Adoption

Set by a decision of the EU Council – expected on 01.01.2026.

From this date, the euro will be the official currency.

Dual Price Display

Begins 1 month after the EU decision and continues for 12 months after the euro is introduced – a total of about 18 months..

Dual Circulation of Currencies

From 01.01.2026 to 31.01.2026 both the lev and the euro will be used in parallel. After this, the lev will no longer be legal tender.

Currency Conversion

Official Rate: 1 euro = 1.95583 BGN (no rounding).

Conversion: Done by dividing by the rate, followed by standard mathematical rounding to the second decimal place.

Special Rounding: For salaries, pensions, and benefits – always rounded up if a third decimal digit is present.

Penalties: Fines up to BGN 10 000 or BGN 14, 000 for legal entities in case of repeated violations) for incorrect application .

Contracts and Bank Accounts

All contracts specifying amounts in leva will automatically be interpreted in euros from the introduction date, without requiring amendments.

Bank and electronic lev accounts will be automatically and freely converted into euro accounts.

Possibility to merge lev and euro accounts within 2 months after the introduction date.

Cash Exchange

BNB: Free, unlimited, and indefinite exchange of leva into euros.

Banks: Free exchange for the first 6 months. After 12 months, they may stop offering this service.

Bulgarian Post Offices: Free exchange up to BGN 1,000/day for 6 months in areas without bank branches.

Prices and Payments

Merchants are not allowed to raise prices unjustifiably.

During the dual price display period:

Prices will be displayed in both leva and euros on receipts, labels, advertisements, and fiscal slips.

During the dual circulation period:

When paying in cash, change will be returned in euros (or in leva if euros are not available).

Restriction during dual circulation:

No more than 50 lev coins may be used in a single transaction.

Frequently Asked Questions

From August 8, 2025, until January 1, 2027, all merchants will be required to display prices simultaneously in Bulgarian lev (BGN) and in euro (EUR) when selling goods and services to end consumers.

The requirement applies to:

  • product price tags;

  • prices in advertising materials and brochures;

  • online shops and e-commerce catalogues;

  • receipts and invoices (when an amount is shown to the customer);

  • price lists, menus, and other public sources of price information.

The fixed conversion rate determined by the EU at the time of euro adoption will be used:
 1 EUR = 1.95583 BGN (no rounding applied).

Yes. Dual price display is mandatory for both physical and online stores. Online platforms must clearly display the final consumer price in both Bulgarian lev (BGN) and euro (EUR).

Yes, if the online store sells goods or services to Bulgarian consumers. Under the “targeting activity” principle for the Bulgarian market, a foreign company (including Czech) falls under Bulgarian consumer protection law and must comply with dual price display rules if:

  • the website is available in Bulgarian;

  • prices are listed in Bulgarian lev (BGN);

  • delivery to Bulgaria is offered;

  • or the store otherwise targets Bulgarian consumers.

Yes. Once the euro becomes Bulgaria’s official currency (from January 1, 2026), the obligation for dual price display will remain in force for another 12 months – until January 1, 2027.

Application periods:

  • August 8, 2025 – December 31, 2025: Main currency – Bulgarian lev (BGN), prices displayed in BGN + EUR.

  • January 1, 2026 – January 1, 2027: Main currency – euro (EUR), prices displayed in EUR + BGN.

The purpose of this rule is to ensure transparency for consumers, facilitate price comparisons, and prevent speculation or misleading practices during the transition period.

No. During the transitional period (from August 8, 2025, to December 31, 2025), the official currency of Bulgaria remains the Bulgarian lev (BGN).

  • There is no legal obligation to accept payments in euro during this period.

  • All contractual obligations, tax payments, social contributions, and other settlements must be made exclusively in lev until December 31, 2025.

According to the Law on Euro Introduction, there are two separate rules:

  1. Declaration of amounts – For tax and social security declarations filed for past periods, amounts must be stated in the currency that was official at the end of the respective tax period.

    • Example: For December 2025, the VAT return is completed in lev (BGN) since the official currency as of 31.12.2025 was BGN.

  2. Payment of amounts – From January 1, 2026, all public receivables owed to the state and municipalities must be paid and collected in euro (EUR).

    • During the dual circulation period (January 1–31, 2026), cash payments may also be made in lev.

    • If the payment is made in euro, the fixed conversion rate applies: 1 EUR = 1.95583 BGN, without rounding.

  • Submitting an amended VAT return: The amounts must be stated in the currency that was official at the end of the tax period being corrected. For periods up to 2025, this is the Bulgarian lev (BGN).

  • Payment of amounts: From January 1, 2026, all public receivables are paid in euro (EUR). The fixed conversion rate applies: 1 EUR = 1.95583 BGN, without rounding.

When filing a return for a past tax period, the date of the tax period governs the declaration, not the date of accounting entry.

 

Amounts in the VAT return must be stated in the currency that was official at the end of that tax period.

Example: An invoice with a tax point in October 2025, issued in lev (BGN), not included in the October 2025 VAT return but recorded in January 2026, must still be declared in BGN, since the official currency for October 2025 was BGN.

Useful Sources:

  1. Official portal – evroto.bg
  2. Ministry of Finance – https://www.minfin.bg/bg/euro
  3. Bulgarian National Bank (BNB)- https://www.bnb.bg/ResearchAndPublications/P_Euro/p_euro.htm
  4. National Revenue Agency – https://www.nap.bg/
  5. Government Communication Strategy – https://gov.bg/bg/prestsentar/novini/startira-informatsionniyat-sayt-za-vavezhdane-na-evroto-v-balgaria
  6. Media information – https://www.capital.bg/politika_i_ikonomika/ikonomika/2025/06/06/4790790_smeniame_levovete_s_evro_koga_kude_i_kak/
  7. Consumer Protection Commission – https://kzp.bg/
  8. Ministry of e-Government – https://egov.government.bg/wps/portal/ministry-meu/home/introduction-of-the-euro-in-republic-of-bulgaria/euro-developers-faq/euro-developers-faq

Have additional questions about the euro introduction?

Contact us – the team at Sb Accounting & Consulting is available to provide information and practical support for a smooth transition to the new currency.

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