Commercial Contracts

One of the constant challenges in commercial life is balancing the flexibility to take advantage of new business opportunities with the desire for reliable and robust…

Corporate, Mergers & Acquisitions

A flexible corporate structure is essential for regularly changing environments and business ambitions. Tascheva & Partner understands that so far as business…

Real Estate & Construction

Tascheva & Partner has been active in real estate and construction since the start of the privatization of state-owned properties and the opening of the Bulgarian…

Energy

We provide expert assistance to clients investing in energy projects in Bulgaria. We have a strong and proven track record advising on renewable energy projects. Our services…

Insurance

The insurance market is growing rapidly in Bulgaria and Tascheva & Partner is well equipped to offer top-level related legal services to its international and local…

Draft amendments of the VAT Act with respect of the possibility of adjustment of credit for input tax

Draft amendments of the VAT Act with respect of the possibility of adjustment of credit for input tax

On the website of the Ministry of Finance are published draft amendments in order to adjust the tax acts in 2017. In the transitional and final provisions to the Act amending and supplementing the Excise duties and tax warehouses act is proposed the introduction of the following amendment of the VAT Act with respect of the possibility of adjustment of credit for input tax: A. Upon advance payment In case a supply is not effected and the supplier has failed to issue a credit note certifying the supply has not been carried effected, the recipient is obliged to adjust the Continue Reading

Draft amendments of the VAT Act with respect of the commission agreement

Draft amendments of the VAT Act with respect of the commission agreement

On the website of the Ministry of Finance are published draft amendments in order to adjust the tax acts in 2017. In the transitional and final provisions to the Act amending and supplementing the Excise duties and tax warehouses act is proposed the introduction of the following amendment of the VAT Act with respect of the tax treatment of the supplies performed by the parties of a commission relationship: 1. In case the commission agent acts for the account of the principal with respect to sale of goods: A. The taxable event shall be determined under the general rules of Continue Reading

Draft amendments of the VAT Act with respect of the lease agreements

Draft amendments of the VAT Act with respect of the lease agreements

On the website of the Ministry of Finance are published draft amendments in order to adjust the tax acts in 2017. In the transitional and final provisions to the Act amending and supplementing the Excise duties and tax warehouses act is proposed the introduction of the following amendment of the VAT Act with respect of the lease agreements: Lease agreements will be deemed supplies of goods, subject to taxation with VAT, if the following conditions are met: – The lease agreement stipulates transfer of all risks and benefits ensuing from the ownership of the goods; – A provision is set Continue Reading

Questions referring to the application of art. 141, para 8, sentence 1 of the Law of Commerce in practice

Questions referring to the application of art. 141, para 8, sentence 1 of the Law of Commerce in practice

In §18 of the Final Provisions of the Law onthe Amendment and Supplements of the Tax-Insurance Procedure Code (Promulgated in the State Gazette issue No14, 15.02.2011) a new paragraph 8 has been added to art. 141 of the Law of Commerce concerning the managers of limited liability companies. Currently, the text of art. 141, para 1, sentence 1 of the Law of Commerce states that as a manager of a limited liability company cannot be appointed a person “who has been declared insolvent or who has been a manager, a member of a managing or a controlling organ of a Continue Reading

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