Yavor Markov

Interest-free loans between related parties are common practice in the corporate world, but they carry specific tax risks and requirements regulated by the Corporate Income Tax Act 2007 (CITA). In this context, it is crucial for companies to understand and comply with the tax rules to avoid penalties and adverse consequences.

A Right of First Refusal (ROFR) gives existing shareholders or a company the first opportunity to purchase shares or assets before the owner can sell them to a third party and prohibits the seller from subsequently selling the asset to a third party on better terms than those offered to existing shareholders.

Money laundering Criminal enforcement Which government entities enforce your jurisdiction’s money laundering laws? Bulgaria is a unitary state and money laundering is criminally enforced at the national level. The Criminal Procedural Code governs criminal enforcement. This is divided into two phases: a pretrial phase, where evidence is collected; and a trial phase, carried out in court and that may result in a verdict.