People often struggle to find out what taxes they own to their government and in order to help you out, we will make an overview of taxes in Bulgaria to reveal some of the most fundamental points.

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Disclaimer

This brief overview of the taxation in Bulgaria is prepared exclusively for general information purposes and might not be fully comprehensive or precise. Therefore, a reader of this overview should neither act based on this information nor prepare business plans and forecasts without seeking professional advice.

For more information and specific advice, please Contact us.

Corporate income taxes

Resident companies, defined as those incorporated under Bulgarian…


The unusual undertaking called Libra and its place in the highly competitive and vast crypto world.

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Less than a year ago, Facebook brought to the big public news about its plans to create a brand-new currency working on the Blockchain basis. The name is ‘Libra’, and some of the greatest players on the American and global market, such as Visa, Spotify, Vodafone, eBay, Uber and Thrive Capital, are involved. But, of course, the main character is Facebook itself, which has got nearly 2.5 billion active users and plans to use the new virtual money for its coming payment service called…


What kind of legal issues inexperienced undertakers may face during the early stage of business ideas in today’s world of informational technology?

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During one of my last interviews, I was asked if the role of a Chief Legal Officer (CLO) is essential for a startup and what are the main actions I take for the one I participate in. The straightforward answer was: “Everything — from internal legal structure — to covering all touchpoints with partners and clients.” In general, the CLO — the most annoying team member who constantly reminds everyone that every significant action of the company has…


In this article, we aim to explain the Shareholder’s Agreement and the key points surrounding it.

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The latest point at which you will have to have a shareholders agreement (‘SHA’) would be when your startup is ready to move ahead with angel/institutional investments. It is one of the most crucial startup documents that help determine everyone’s rights and responsibilities holding equity in the company. This kind of contract is critical as it defines the relationship between a particular company’s shareholders beyond the company statutes (the document you file when incorporating the entity). It covers not only the equity matters (transfer…


In the second part of the topic regarding the ICO and how credible regulations could affect it in a positive way, we try to give a deeper and better understanding of the main issues related to it.

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As a matter of fact, the current degree of trust in initial coin offerings is close to zero, and it will remain at this level until clear rules are in place. In 2017 and 2018, the team of VCLAW encountered the chaos surrounding the early-stage blockchain-based projects. This required us to analyse the innovative funding models in the context of the existing laws…


In this article, we aim to explain what are the main issues regarding the ICO and how credible regulations could affect it in a positive way.

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Initial coin offering, or as some might well define it — ‘the quickest way to lose your money’ is a long-gone form of crowdfunding. Despite the hype created by the booming Bitcoin price and massive amounts raised by numerous projects, not many of them are still operating and providing value for the token holders today. It is a shame that all of this creativity built around the unlimited opportunities provided by the decentralized ledger…


With this article we aim to explain the actual value of virtual currencies and to clarify their legal status as well as the regulation to which they would be subject to in the future.

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We recently came across a post on social media about recruiting legal professionals to work on a particular project with a proposed salary in a newly issued cryptocurrency. Of course, it might not sound appealing to someone that has experienced the downside of a cryptocurrency crash. Perhaps this is why someone commented that he would also like to buy goods with a new handmade currency that…


In this article, we aim to provide the reader with a basic understanding of how the decentralised technologies work so that they can comprehend the fundamentals behind the legal evolution.

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We dedicated of this series of articles to the basics of the current state of innovation in the contemporary financial and monetary system driven by the invention of cryptocurrencies. Unfortunately, this notion raises more concerns and ambiguity rather than curiosity for the new opportunities ahead. To be better prepared for what is inevitably coming, one needs to have some understanding of the technology underneath which is the most…


This article will enhance your understanding of the legal nature of this transition.

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The development of innovative technologies has always led to a disruption of every aspect of the economic and legal structure of our society. Have you thought of why people prefer having Bitcoin instead of USD and vice-versa? The introduction of digital currencies which are based on blockchain technology started a very significant conversation around the perceived value of traditional currencies. Each side of the dispute states that there is no real factor backing the price of the other means of exchange. Actually, the theory that the monetary…

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