New soft-law rules for the reinsurance contracts
22.01.2020

The Principles of Reinsurance Contract Law (PRICL) were published in the end of 2019. They were drafted by a Project Group of university professors, representatives from primary insurance and reinsurance ...

  Implementation of rules for disclosure and automatic exchange of information about cross-border tax arrangements
22.01.2020

The Special rules are implemented in the Tax-Insurance Procedural Code (TIPC), through a new section to Chapter Sixteen “Special Proceedings”. The provisions shall enter into force on the 1st of ...

  State Agency for National Security has adopted the National Assessment of the Risk of Money Laundering and Terrorist Financing
21.01.2020

After January 09, 2020 the entities and individuals subject to the law shall bring their internal rules in compliance with the National Assessment of the Risk of Money Laundering and ...

  Amendments to the Tax-Insurance Procedural Code dated the last day of 2019 and related to the customs and tax legislation
17.01.2020

Certain amendments in the customs and tax legislation entered into force on the 1st of January 2020. They were introduced by amendments of the Tax-Insurance Procedural Code (TIPC), promulgated on ...

  The Insolvent Bank is not a Party to the Court Proceedings for the Invalidity of Set-Offs
16.01.2020

In its last interpretative resolution (Interpretative resolution No 1/2019 court case No 1/2019) the Supreme Court of Cassation (“SCC”) ruled out that the insolvent bank is not a party to ...

  Bulgaria is one of the few states that regulates the transfer of athletes in its legislation
15.01.2020

§1, item 19 of the Supplementary Provisions of the Physical Education and Sports Act defines a transfer, namely a transfer of the athletes’ sporting rights. The licensed sports federations maintain ...

  New NRA Guideline on Compulsory VAT Registration of Persons Performing Homogeneous Activities in Same Premises
14.01.2020

On 10th of January 2020 tax authorities issued a new instruction on the correct application of the new art. 96, para. 10 of the VAT Act regarding the compulsory registration ...

  Amendments of the payment-order proceedings
13.01.2020

The amendments aim to expand the scope of the consumer`s protection due to their weaker bargaining position when dealing with traders. Thus, the scope of one of the main principles ...

  Obligation to adjust VAT on a building – initially deducted correctly – subject of a ‘sale and lease back’ transaction
13.01.2020

Although obvious at first sight, the problem concerned rises many questions regarding the correct interpretation of the Council Directive 2006/112/EC dated 28 November 2006 on the common system of value ...

  What may be expected from the new Agricultural Land Act?
13.01.2020

At the end of 2019, a draft of the new Agricultural Land Act was announced to improve the regulation regarding the ownership, use and management of agricultural land. In view ...

  Employment agreement termination due to lack of necessary education/professional qualification – legal challenges
13.01.2020

2019 left the issues related to termination of the employment agreement when the employee does not have the necessary education/professional qualification for the work performed (Art. 328, Para. 1, p. ...

  Employment contract termination due to closure of part of a commercial enterprise – legal challenges
13.01.2020

At first glance, the provisions of the Labor Code for the closure of a part of the enterprise are very clear: in these cases, the employer is entitled to terminate ...

  Costs will be awarded for appeals against penal orders
10.01.2020

At the end of November, an amendment was made to the Administrative Violations and Sanctions Act, which stipulates that the parties are entitled to costs. This is a long-sought and ...

  Guidelines on processing of personal data through video devices
07.01.2020

Systematic automated monitoring of a specific space by optical or audio-visual means, mostly for property protection purposes, or to protect individual´s life and health, has become a significant phenomenon of ...