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Non-operating companies will be exempt from filing no activity declarations
By amendments to the Accountancy Act promulgated in State Gazette No 92 dated 17.11.2017, all non-operating companies were released from the requirement to announce their annual financial statements. Instead, such companies were obliged to
New Law on Real Estate Loans
On 02 August 2016 a new Law on loans extended in relation to acquisition of real estate properties entered into force. By the said Law the regulations of Directive 2014/17/ EC of the European
New Labour Migration and Mobility Act
A new law regulating labour migration and mobility shall enter into legal effect on 21.05.2016 (“LMLMA”). Main goals of the new law The new LMLMA aims to harmonize Bulgarian legislation with the acts of
New Accountancy Act
On 1 January 2016 a new Accountancy Act shall enter into force as it shall introduce numerous amendments and supplements to the existing regulations concerning financial statements, independent financial audit of Bulgarian companies, announcement
No FIT for biomass projects after 01.01.2016
According to the current legislative provisions only new power plants which correspond to the below -mentioned requirements could benefit from the compulsory purchase of electricity at preferential prices. These are power plants with combined
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Forthcoming changes concerning biomass plants
According to the current legal provisions only new power plants which correspond to the below -mentioned requirements could benefit from the compulsory purchase of electricity at preferential prices. These are power plants with combined
Corporate Commercial Bank pronounced bankrupt
Since the five – member jury of the Supreme Administrative Court left without consideration the appeals filed by the majority shareholders in Corporate Commercial Bank against the decision of the Bulgarian National Bank to
Supreme Court confirmed CCB license withdrawal
A three-member jury of the Supreme Administrative Court left without consideration the appeals filed by the majority shareholders in Corporate Commercial Bank. The court stated that the shareholders did not have any direct interest
Report on preferential prices of electricity produced from biomass
On 08.01.2015 at 10.00 am in the office of the State Energy and Water Regulatory Commission (SEWRC) public discussions shall be held on a report for amendment to preferential prices of electricity produced from
Bulgaria will keep its flat tax rate of 10% on personal incomes
Bulgaria will keep its flat tax rate of 10%, Bulgarian National Assembly has decided, rejecting motions to re-introduce progressive taxation. Members of parliament from the minority government coalition of centre-right GERB and right-wing Reformist
Bankruptcy proceeding against Corporate Commercial Bank stopped by Sofia City Court
Sofia City Court has stopped bankruptcy proceedings launched at Corporate Commercial Bank (CorpBank). This was done it the first court session on the bankruptcy case held on Monday 24 November 2014. The bankruptcy procedure