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Bulgaria

The EU Recovery Plan Effects For Bulgaria

Startup visas incentives for digital nomads and more scale-up companies included in the recovery plan of EU  Introduction of a clear procedure for startup visas, incentives for Bulgaria to become a destination for digital nomadism, more ” scale-up companies ” –…

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Bulgaria

Bulgaria: Vat rate reduction for certain sectors

As of July 1, 2020, with a change in the Value Added Tax Act (VAT), the introduction of a temporary differentiated VAT rate was adopted for some sectors that are most affected by the economic crisis in connection with COVID-19….

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Bulgaria

Bulgaria: New Rules for E-commerce & VAT

As of July 1st, new VAT rules enter into force in the European Union, which facilitate the fulfillment of the existing obligations related to the VAT and reduce the administrative burdens for the companies performing cross-border online sales.   For online shopping, an electronic portal (electronic one-stop shop…

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Bulgaria

Bulgaria: Latest Amendments in the VAT Act

In Effect on 1 July, 2021  New changes were introduced into national VAT legislation related to the implementation of the provisions of Council Directive (EU) 2017/2455 of 5 December 2017 amending Directive 2006/112 / EC and Directive 2009/132 / EC…

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Bulgaria

Amendments to the Corporate Income Tax and VAT Act in Bulgaria

Effective 1st of January 2021  Changes to the Corporate Income Tax Act were published in the Bulgarian State Gazette no. 104/8 December 2020 and no. 107 of 18 December 2020.   The changes were in connection to the withdrawal of the United Kingdom of Great Britain and Northern Ireland from…

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Bulgaria

Latest amendments to the Bulgarian Social Security and Tax legislation...

Certain changes to the Bulgarian Social Security legislation were published in the Bulgarian State Gazette No 103/4.12.2020, that entered into force on the 1st of January 2021. The amendments are summarized below:   BGN Minimum amount of the monthly remuneration…

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Bulgaria

Obligations of Bulgarian Companies under “MAMLA”

IntroductionThe new Measures against Money Laundering Act (the “MAMLA”) promulgated in the State Gazette, issue 27, dated 27 March 2018, and entered into force on 31 March 2018, partially transpose the provisions of Directive (EU) 2015/849 on the prevention of…

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Bulgaria

HR, Payroll and PEO services in Bulgaria

In recent years, Bulgaria has been an increasingly attractive destination for the outsourcing of businesses in numerous industries. As a member of the European Union, Bulgaria has well-developed macroeconomic policies and is considered as one of the most financially stable…

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Bulgaria

Opening a bank account in Bulgaria

In recent years, Bulgaria has become one of the most attractive destinations for investments. The country is renowned as a center of operations for foreigners’ businesses as a result of numerous reasons such as: Political and business stability  Bulgaria enjoys…

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Bulgaria

Bulgaria enters the Eurozone’s “waiting room”

Germany’s assumption of the Presidency of the EU began on the 10th of July 2020. Along with it came the long-awaited announcement that Bulgaria and Croatia entered the ERM2 exchange rate mechanism and the Banking Union, otherwise called the “waiting…

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