![BG](https://gpcolaw.com/wp-content/uploads/2025/07/uk.jpg")
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 […]
The Bulgarian Anti-Money Laundering Compliance Regime is no longer applicable to wholesalers
The Bulgarian Anti-Money Laundering Act is amended to remove the wholesalers as a category of legal entities, which are required to comply with a special regime of investigating and reporting business partners to prevent money laundering. The revision is published in the State Gazette № 7 on 26.01.2021. The purpose of the revision is to […]
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 […]
COVID-19: Increase of the minimum daily allowance of unemployment benefits until the end of 2020
On 29 September 2020 the Bill amending the Public Social Insurance Budget Act for 2020 was promulgated at the Official Gazette No 84. It increases the amount and the duration period of the unemployment benefits, effective as 1 October 2020 as a part of the social-economic measures package of the Bulgarian government to mitigate the […]
COVID-19: New measures in support of the business
New state aid will be available to the small and medium-sized enterprises in the field of tourism and bus transport to mitigate the negative impact of COVID-19 crisis. In the middle of September 2020, the Managing authority of Operational Program “Innovation and competitiveness” (OPIC) announced the start of the application campaign for proposals of projects in support of micro, small and medium-sized enterprises (SMEs) carrying out their business activity in the field of tourism and coach and bus services. The two grant procedures are expected to open for applicants within the coming weeks. In particular, the grants will […]
COVID-19: Triggering the force majeure clause after the end of the state of emergency in Bulgaria
This article is a follow-up to our publication from 20 March 2020 “COVID-19: Terms and conditions to invoke force majeure”. In the following lines we will clarify to what extent the end of the state of emergency and the changes in the legislation introduced by the Law for amendment and supplement of the Health Act […]
COVID-19 Bulgaria: The 60/40 compensation scheme is revised to support further employers
To support employers during the state of emergency declared on 13 March 2002, the Bulgarian Parliament enacted the Emergency Measures and Actions Act later in March, providing for option to finance 60% of the employees’ insurance income for January 2020 for up to three months through the National Social Security Institute. A subsequent revision of […]
