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.

As a consequence of the new decision personal data can flow from the EU to US companies participating in the Framework without additional data protection safeguards.

The balance between the right to freedom of expression and information and the right to data protection has been the center of discussion for quite some time now, especially in the context of journalistic activities. As both rights are not absolute, the question is – which right overrules the other?

Pursuant to the assignment of receivables agreement the creditor under a certain receivable assigns it to a third party. As the assignment procedure involves the processing of personal data of a third party – a debtor that is not a party to the agreement, a thorough examination of the personal data protection rules and their applicability to the assignment of receivables is required.

On 16 July 2020 the Court of Justice of the European Union issued a preliminary ruling with significant importance regarding the instruments for transfer of personal data outside the EU to the so called “third countries”, in particular to the US.

Оn September 2, 2020 the the EDPB issued Guidelines on the interpretation of the concepts of data controller, joint controller and data processor, providing clarifications and detailed guidance, throughout useful examples, in order to ensure consistent and harmonised approach within the EU and the EEA.

On 04 June 2021 the European Commission issued two sets of standard contractual clauses (SCC) under the General Data Protection Regulation (GDPR): 1. SCC for the transfer of personal data to third countries (below “New Transfer SCC”); and 2. SCC between controllers and processors within EU (below “Controller-Processor SCC”).

Тhe bill on the amendment and supplement to the Personal Data Protection Act, which is to be adopted in the coming months, was also discussed

He presented his opinion on the new dating service of Facebook, the Cambridge Analytica scandal...

The newly-acquired certificate is the second one that IAPP has conferred on Ms. Krusteva.