News

Pursuant to the new amendments to the Accounting Act, large companies will also have to disclose non-financial information in their annual reports. This includes reporting on their ESG aspects along with the traditional financial reporting

In 2022, a new type of paid leave in favour of the father for childcare until the child’s attainment of 8 years of age has been introduced in the Labour Code (Art. 164c). This is an individual right of the father (the adoptive father), which reflects the European measures to achieve equality between parents in balancing work and family life, including in raising a child. Below, we briefly discuss the more important specifics and some practical issues related to the use of the new type of leave.

The Amendments to the Commercial Act have been finally adopted, introducing the so-called Fast-Track Liquidation Procedure. It aims to speed up the liquidation procedure for companies that meet the legal requirements and to ensure cooperation between state authorities in relation to the exchange of information.

Rositsa Vasileva summarizes into digestible bullet points what you should know if you want to employ people in Bulgaria

The adoption of the Introduction of Euro into the Republic of Bulgaria Act prior to the issuance of the Decision of the Council of the European Union enables businesses to align their processes and organise their operations in a timely manner

Taxes on individuals trading cryptocurrency reduced by legislative amendment

From 1 January 2025, the VAT registration threshold for Bulgarian companies is raised to BGN 166,000.

There is a need for refinement of municipal practice and in some cases - legal changes

The Bulgarian Supreme Court of Cassation (SCC) has finally brought clarity to the issue of damages for author's rights infringement with a new Interpretative Decision. Тhe issues of determining the amount of damages suffered; the recovery of out-of-court costs and the need to prove non-pecuniary damages are addressed.