The Bulgarian Anti-Money Laundering Act is amended to remove the wholesalers as a category of legal entities, which are required to comply with a special regime of investigating and reporting business partners to prevent money laundering. The revision is published in the State Gazette №...
On October 15, 2020 the Managing authority of Operational Program Innovation and competitiveness announced the start of public consultation of the procedure for the selection of projects Adapting the business activity of SMEs in the context of COVID-19. The procedure aims to support the SMEs to reorganise...
On 29 September 2020 the Bill amending the Public Social Insurance Budget Act for 2020 was promulgated at the Official Gazette No 84. It increases the amount and the duration period of the unemployment benefits, effective as 1 October 2020 as a part of the...
New state aid will be available to the small and medium-sized enterprises in the field of tourism and bus transport to mitigate the negative impact of COVID-19 crisis. In the middle of September 2020, the Managing authority of Operational Program “Innovation and competitiveness” (OPIC) announced the start of the application campaign for proposals of projects in support of micro, small and medium-sized enterprises (SMEs) carrying out their business activity in the field of tourism and coach...
This article is a follow-up to our publication from 20 March 2020 “COVID-19: Terms and conditions to invoke force majeure”. In the following lines we will clarify to what extent the end of the state of emergency and the changes in the legislation introduced by...
To support employers during the state of emergency declared on 13 March 2002, the Bulgarian Parliament enacted the Emergency Measures and Actions Act later in March, providing for option to finance 60% of the employees’ insurance income for January 2020 for up to three months...
On 24 March 2020, the Emergency Measures and Actions Act during the state of emergency announced by a decision of the National Assembly of 13 March 2020 was promulgated (the “State of Emergency Act”). The Act introduces measures and actions during the state of emergency,...
If you are entrepreneur or manager, navigating your company through the COVID-19 challenge, you probably are considering whether and how you can invoke the force majeure clause in your contracts if in the coming weeks or months your company defaults on its obligations towards clients...
On 13 March 2020 the Bulgarian government announced a set of measures in response to the expanding COVID-19 epidemic in the country within the frame of the state of emergency proclaimed by the Parliament earlier on the same day. As expected, the kindergartens, schools and universities...
On 13 March 2020 the Bulgarian Parliament proclaimed state of emergency for a period of one month in response to the expanding COVID-19 epidemic in the country. By doing so it empowers the government to act faster in mitigating the risk of overload of the...