Public real estate is no longer exempt of the prescription rule

The Bulgarian Constitutional Court rules against the moratorium on acquisition by prescription of certain state and municipal urban real estate For more than a decade acquisition by prescription of state and municipal real property in Bulgaria has been suspended with the pretext of protecting public interest. In March 2022, this exception of the property law […]

Covid-19: Restrictions on public gathering in force in Bulgaria until 31 October 2021

From 7 September 2021 to 31 October 2021 events involving gathering of people are restricted with the view to prevent further acceleration of the COVID-19 pandemic in Bulgaria pursuant to Order RD -01-748/02.09.2021 of the Minister of Health. Conferences, seminars, symposium, trainings and other events are still allowed upon certain condition: use of no more […]

CRYTOCURRENCY: IS THE INCOME TAXABLE IN BULGARIA?

As digital money continues to gain popularity and supporters, Bitcoin and Ethereum regularly making global news, it might seem that the tax law is yet to regulate the proceeds of this seemingly innovative source of income. While business only recently started opening up to the opportunities related cryptocurrencies e.g. by accepting these alternative payments for […]

Bulgarian Anti-Money Laundering Act revised again: Fewer companies required to report

In line with the revision of the Anti-Money Laundering Act in January 2021 regarding wholesalers (Wholesalers no longer required to report), the scope of the compliance obligations is further reduced with the next amendment announced today (State Gazette, issue 21 of 12.03.2021). The aim of the legislator, as with the previous revision, is to increase […]

Covid-19: New state aid at the amount of EUR 25 000 is now available to the small enterprises

On February 22, 2021 the Managing authority of Operational Program Innovation and competitiveness announced the start of the projects’ selection under the Procedure “Support for small enterprises with turnover exceeding BGN 500 000 to overcome the economic impact of the Covid-19 pandemic”. The applications may be submitted until 15th March.   The procedure aims to provide operating capital to the small enterprises in Bulgaria who have realised a turnover of BGN 500 000 for […]

New obligations for the employers are being discussed

As of 1 March 2021 employers will be required to notify the National Revenues Agency about the grounds of the employment termination, as well as about secondment or posting their employees to work temporarily in another EU country as per Article 121a, Para 1, item 1 of the Labour Code according to a bill for […]

COVID-19: New state aid will be available to the micro, small and medium-sized enterprises

On October 15, 2020 the Managing authority of Operational Program Innovation and competitiveness announced the start of public consultation of the procedure for the selection of projects Adapting the business activity of SMEs in the context of COVID-19. The procedure aims to support the SMEs to reorganise and adapt workplaces and/or changes in the business processes and […]