Bulgaria: preferencial tax

Act on the Economic and Financial Relations with Companies Registered in Preferential Tax Regime Jurisdictions. The scope of the Act is limited in certain cases, such as shares of a company, in which the company registered in a preferential tax regime jurisdiction or persons related to it participate, are traded on a regulated market in a European Union Member State or a country of the European Economic Area, or other markets, included in the special legislation list, where the actual owners-individuals are disclosed; the company registered in a preferential tax regime jurisdiction is part of an economic group which meets the criteria set out in the Act.

In case an exception to the Act is implemented based on false data, the consequences may be a refusal for the issuance of a license, suspension from participation in the relevant procedure, termination of an agreement, etc. In addition to the above consequences, a fine within the range from BGN 50,000 to BGN 100,000 may be imposed.

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