New amendments in the Law on Limiting Payments in Cash from 1st September 2023 are introducing limitation of cash payments of:
- Salary payment from Employers with more than 100 employees;
- Cash payment of dividends exceeding 1 000 BGN
Reporting of cash availability and receivables to owners and staff
Amendments in State Budget Act 2023 introduces new reporting obligations to VAT registered persons under Accountancy Act.
The obligation occurs when the total amount of cash available in hand and the amount of receivables (including from granted loans) from owners, natural persons, workers, employees, persons employed under a management and control contract, and accountable persons exceeds BGN 50,000.
Starting from 1.07.2023, cash availability is to be reported quarterly.
