! INVEST in BULGARIA

The Foreign direct investments in Bulgaria for January – August 2014 are EUR 1221.4 million (3% of GDP), according to preliminary data of the Bulgarian National Bank (BNB). During the same period in 2013 the revised data for the FDI was EUR 1173.9 million (2.9% of GDP). Thus BNB reported an increase of 4% or […]

Corporate tax The basic principles for the taxation of business profits are detailed in the Corporate Income Tax Act (CITA). The current taxes and levies imposed by the CITA are:  corporate income tax lump sum tax levied on certain types of expenses accrued by local tax residents withholding tax. According to the provisions of the […]

Accounting Introduction The Bulgarian accounting legislation is aligned with the applicable European directives and almost no changes have taken place in recent years, and this is expected to be the case in the foreseeable future. Bulgarian accounting rules are governed by the Accountancy Act, developed on the basis of the Fourth Directive of the Council […]

The major legislative acts governing real estate and real estate transactions in Bulgaria are the Bulgarian Constitution, the Ownership Act, the State Property Act, the Municipal Property Act, the Privatization and Postprivatization Control Act, the Civil Procedure Code, the Encouragement of Investment Act, the Territorial Development Act, the Obligations and Contracts Act, the Condominium Ownership […]

Company law The primary law governing the formation, operation, transformation and termination of companies is the Commercial Act, effective from 1 July 1991. There are five forms of business association in Bulgaria under the Commercial Act: • unlimited partnership (sabiratelno druzhestvo – SD) • limited partnership (komanditno druzhestvo – KD) • joint-stock company (aktsionerno druzhestvo […]

Protection and promotion of foreign investments National treatment and most favored nation status The Bulgarian Constitution stipulates that foreign persons (legal entities, individuals or civil partnerships registered in a foreign country) must enjoy equal rights with local persons when conducting economic activities in the Republic of Bulgaria except where otherwise provided by the law (“national […]

Geography and climate Bulgaria is situated in South-Eastern Europe, in the eastern part of the Balkan Peninsula. It borders Romania to the north, the Republic of Serbia to the west, the Former Yugoslav Republic of Macedonia to the southwest, Greece to the south and Turkey to the southeast. The Black Sea is to the east […]

Bulgaria is the ideal destination for the European companies to minimize taxes and avoid heavy bureaucratic procedures. Bulgaria has a stable economy and the lowest taxation rates within the European Union. It is often called the “tax heaven” of Europe. The country is a preferred location for companies and individuals who provide services or trade […]

Edition 94/ 2012 of the Official Gazette adopted amendments in several Bulgarian tax laws which will take effect from 01.01.2013. Amendments in Value Added Tax Act: A possibility to issue simplified invoices is being introduced, meaning they can include not all obligatory elements, only in cases of amounts less than 100 EUR or their equivalent […]

The Law on Amendment and Supplementation of the Value Added Tax Act (VATA) was promulgated in State Gazette (SG) issue 94 of 30 November 2012. This law amends other tax acts as well as the Tax and Social Security Proceedings Code (TSSPC), as well. Only the amendments in the VATA are subject of the present […]

Tuesday 01/01/2013 New Year Sunday 03/03/2013 National Holiday Bulgaria Friday 08/03/2013 Mother´s Day Wednesday 01/05/2013 Labour Day Sunday 05/05/2013 Easter (orthodox) Monday 06/05/2013 St. George Monday 06/05/2013 Easter Monday (orthodox) Friday 24/05/2013 Saints Cyril and Methodius Sunday 16/06/2013 Father´s Day Friday 06/09/2013 Unification Day Bulgaria Sunday 22/09/2013 Independence Day Bulgaria Friday 01/11/2013 National Revival Day […]