Month: August 2023

Does the scope of liability of the third party under Article 177 of the Value Added Tax Act include interest for late payment? Review of Interpretative Decision No. 4 of 10.05.2022 by the Supreme Administrative Court

Does the scope of liability of the third party under Article 177 of the Value Added Tax Act include interest for late payment? Review of Interpretative Decision No. 4 of 10.05.2022 by the Supreme Administrative Court According to Article 177, Paragraph 1 and 2 of the Value Added Tax Act (VATA), a VAT-registered recipient of …

Does the scope of liability of the third party under Article 177 of the Value Added Tax Act include interest for late payment? Review of Interpretative Decision No. 4 of 10.05.2022 by the Supreme Administrative Court Read More »

Bill to the Bank Insolvency Act has been submitted to the National Assembly

Bill to the Bank Insolvency Act has been submitted to the National Assembly The Ministry of Finance has submitted a bill to the National Assembly for amendment of the Bank Insolvency Act  which aims to introduce certain rights to directors of banks with revoked licenses and to the large shareholders thereof. These amendments are contained …

Bill to the Bank Insolvency Act has been submitted to the National Assembly Read More »

Upon partial reimbursement of a fine which is provisionally paid in compliance with an antitrust decision and subsequently reduced, the sanctioned company is also entitled to an interest for delayed payment

Upon partial reimbursement of a fine which is provisionally paid in compliance with an antitrust decision and subsequently reduced, the sanctioned company is also entitled to an interest for delayed payment   The General Court has awarded nearly 1.8 million euros to a German company for damage suffered due to the European Commission’s refusal to …

Upon partial reimbursement of a fine which is provisionally paid in compliance with an antitrust decision and subsequently reduced, the sanctioned company is also entitled to an interest for delayed payment Read More »

The Ministry of Justice has introduced a portal for e-seizures and e-auctions

The Ministry of Justice has introduced a portal for e-seizures and e-auctions          Anyone using an electronic signature will be able to receive information about imposed  encumbrances on movable property subject to registration, receive initial notifications about imposed encumbrances, and monitor changes in the status of imposed encumbrances. Both Bulgarian  and foreign …

The Ministry of Justice has introduced a portal for e-seizures and e-auctions Read More »

THE SEIZURE OF SHARES OF VARIABLE CAPITAL COMPANY (VCC) IS IMPOSED UNDER SPECIAL PROCEDURES

THE SEIZURE OF SHARES OF VARIABLE CAPITAL COMPANY (VCC) IS IMPOSED UNDER SPECIAL PROCEDURES With State Gazette, issue 66 dated August 1, 2023, Article 516a of the Civil Procedural Code (CPC) has been adopted, regulating the procedure for seizure of shares of a company with variable capital (CVC). Unlike the seizure of shares of a …

THE SEIZURE OF SHARES OF VARIABLE CAPITAL COMPANY (VCC) IS IMPOSED UNDER SPECIAL PROCEDURES Read More »

EMPLOYERS WITH 100 OR MORE EMPLOYEES WILL PAY LABOR REMUNERATIONS ONLY BY BANK TRANSFER

EMPLOYERS WITH 100 OR MORE EMPLOYEES WILL PAY LABOR REMUNERATIONS ONLY BY BANK TRANSFER With State Gazette, issue 66 dated August 1, 2023, an amendment to Article 270 of the Labor Code has been adopted. The new paragraph 4 requires employers with 100 or more employees (except for individuals with whom a labor contract for …

EMPLOYERS WITH 100 OR MORE EMPLOYEES WILL PAY LABOR REMUNERATIONS ONLY BY BANK TRANSFER Read More »

The Supreme Court of Cassation (SCC) and the Supreme Administrative Court (SAC will provide an interpretative decision on the question of whether it is possible to award compensation for non-pecuniary damages in favor of legal entities.

The Supreme Court of Cassation (SCC) and the Supreme Administrative Court (SAC will provide an interpretative decision on the question of whether it is possible to award compensation for non-pecuniary damages in favor of legal entities       In their first joint interpretative case of the year, SCC and SAC will address the questions of …

The Supreme Court of Cassation (SCC) and the Supreme Administrative Court (SAC will provide an interpretative decision on the question of whether it is possible to award compensation for non-pecuniary damages in favor of legal entities. Read More »

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