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…

Legal bulletin

Legal bulletin

LEGAL BULLETIN I. Acts and regulations on their application Bill for amending and supplementing the Foodstuffs Act A new Food Act, in force since 09.06.2020, was published in the State Gazette No. 52 of 09.06.2020. The new law introduces new requirements for business operators operating on the Bulgarian food market. Registrations of producers and distributors of food and non-alcoholic beverages, as well as their sites and vehicles, are introduced in special registers kept by the Bulgarian Food Safety Agency. There is also a ban on online trade in baby food and food for special medical purposes. The law introduces a Continue Reading

COVID-19

COVID-19

Following the adoption of the Measures and Actions during the State of Emergency Act, announced by a decision of the National Assembly of March 13, 2020, the following legal consequences for the duration of the state of emergency arise for the companies of the Group XXX OOD in Bulgaria. 1) For the duration of the state of emergency all monetary liabilities of third parties towards XXX OOD remain in force and their payment is due. If the client, however, is in arrears with a payment due to XXX OOD, then for the duration of the state of emergency XXX OOD Continue Reading

Transfer pricing documentation requirements in regard with controlled transactions

Transfer pricing documentation requirements in regard with controlled transactions

On 05.11.2018 the Ministry of Finance introduced a bill for Amendment and Supplement of the Tax and Social Insurance Procedure Code. The bill seeks to implement Action 13 of the Base Erosion and Profit Shifting actions (the so-called BEPS actions) of the OECD.    The bill makes provision for obligations concerning local and foreign taxable legal persons which perform business activities in the Republic of Bulgaria through a place of business activity in the country, and which also carry out the so called “controlled transactions” on the territory of the country – i.e. they have commercial and financial relationships with Continue Reading

Amendments of the Tax and Social Security Procedure Code (TSSP) related to the automatic exchange of country by country reports

Amendments of the Tax and Social Security Procedure Code (TSSP) related to the automatic exchange of country by country reports

The Bulgarian Parliament adopted the draft amendments to the TSSPC regarding the automatic exchange of country by country reports (CbC reports) of multinational groups of undertakings (MGU), operating within several EU member states. The amendments are effective as of 04.08.2017. From 2017 the Bulgarian National Revenue Agency (NRA) will exchange information about MGU with the other tax administrations in the EU. One group of data will concern transfer pricing agreements and binding opinions. The changes of the TSSPC are implementing the regulations of Council Directive (EU) 2015/2376 of 8 December 2015. In Bulgaria this legal measure would affect mainly foreign Continue Reading

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