Upcoming changes in payments from/to the budget

Dear customers,

In connection with the instructions of the BNB and the Ministry of Finance starting from 01.10.2023 there will be changes in the form of payment orders from/to the budget, including through the Electronic Budget Payments System (SEBRA)

The changes are as follows:

- It will no longer be necessary to fill in:

• Type and number of the document under which the payment is made;
• Date of issue of the document;
•  Period for which the payment relates. 

For payment orders to the budget, the field "Payment Type Code" becomes optional in case a transfer is ordered to accounts of administrators with identifier 84 (these are positions 13 and 14 in the IBAN), e.g., municipalities. If the field is not filled in, the bank will execute the transfer, as this requisite is optional. Please note that for the purpose of proper repayment, the municipalities will require this information to be included in the payment document. It is the responsibility of the ordering party to determine whether or not the "Payment Type Code" field is filled in on the payment document and whether the code is correct.

As of 01.10.2023, payments by bank transfer to the National Revenue Agency (NRA) will be made to five new bank accounts opened with the Bulgarian National Bank (BNB). Each account is designated for the repayment of a specific obligation: taxes, social security and health insurance contributions, contributions to the State Social Insurance Fund and receivables subject to enforcement by a public enforcement officer.

Please note that due to the migration of the budget payments and the planned update of the bank systems, Investbank JSC shall implement the following changes:

• budget payment orders, payment orders to the current accounts of the NRA and mass files will be accepted for execution until 12:00 h. on 29.09.2023 (at a bank office or through digital channels);
• in case customers have created templates for payments and/or have submitted instructions for periodic payments to the bank, it is necessary to update them in accordance with the changes in the forms for budget payments / accounts of the NRA, which take effect from 01.10.2023.

From 02.10.2023 Investbank will execute payment orders to the budget under the new regime, and payments to NRA will be executed to the new accounts, which will be published on the website of The National Revenue Agency.

Best regards,
The team of Investbank JSC