GDPR became enforceable beginning 25 May 2018
The General Data Protection Regulation (EU) 2016/679 or GDPR is a regulation in EU law on data protection and privacy for all individuals within the European Union and the European Economic Area. It also addresses the export of personal data outside the EU and EEA areas. The GDPR aims primarily to gi...
The Bulgarian measures against money laundering act sets up new requirements for the obliged persons
The new Bulgarian Measures Against Money Laundering Act (MAMLA) was promulgated in March 2018. The law sets up new requirements for 35 categories of persons listed in Art. 4 of MAMLA. The measures for the prevention of the use of the financial system for the purposes of money laundering are binding for the financial institutions, the...
International Forum for Foreign Investment and Investment in Real Estate gathered leading attorneys
The managing partners and from "Kancheff, Gicheva, Marnikas and Partners" Law Firm took part in the international seminar "Foreign Investments and Investment in - European and Bulgarian Regulations", which took place on 12-13 April 2019 in Sofia.
The forum was organized by the UIA in cooperation with the Supreme Bar Council ...
The KGMP team received certificates for data protection officer
Att. Stefania Gicheva and Att. Pepa Marnikas from Kancheff, Gicheva, Marnikas & Partners Law Firm have completed a training course for (DPO).
During the training, were observed the legal and technical aspects of personal data protection, the rights and obligations of the data protection officer, the responsibilities of controlle...
Taxes in Bulgaria
Legal entities are obligated to pay different types of taxes in Bulgaria - corporate tax (income tax), VAT, tax on dividends and liquidation shares from participation in local legal entities, interest tax, etc. Here is a brief overview of tax regime in Bulgaria.
CORPORATE INCOME TAX (CORPORATE ...
Property taxes and fees in Bulgaria
The Local Taxes and Fees Act (LTFA) regulates the regime for taxation with property taxes and fees in Bulgaria.
Here is a brief overview of the main property taxes and fees in Bulgaria.
REAL ESTATE TAX
With real estate tax are levied the located on the territory of the country bu...
Currency and financial regulations in Bulgaria
Here is a brief overview of currency and financial regulations in Bulgaria.
Common financial information
The official currency of Bulgaria is the Lev (BGN). Bulgaria is a country that operates under a currency board. There is a fixed exchange rate for 1 Euro = 1.95583...
The operator of a website with a Facebook ‘Like’ button is a controller jointly with Facebook in respect of the collection and transmission to Facebook of the personal data of visitors to its website
In its judgment in (Fashion ID case), the Court of EU finds that the operator of a website that features a Facebook ‘Like’ button can be a controller jointly with Facebook.
When a visitor consults the such website, that visitor’s personal data are transmitted to Facebook. That transmission occur...
Salaries in Bulgaria
The amount of the salaries in Bulgaria is determined according to the duration of work or according to the results of work.
The is the basic salary plus any additional remuneration to it. This is the total amount of money that is charged per employee for certain period and is reported in the pay roll.
Net wage is ...
Social security in Bulgaria
There are minimum monthly insurance thresholds for the payment of health insurance and social security in Bulgaria.
Firstly, these thresholds are different for each business and profession. They serve as a basis for calculating the social security contribution.
Secondly, the social insurance contributions are due o...