Bulgaria

Recent Articles

•  

  02.10.2023

  Bulgaria

  Race for Leadership: Energy Efficiency and Renewables Fund Seeks New Manager

  The Bulgarian Energy Efficiency and Renewable Sources Fund (EERSF) is currently in search of a new manager for a 5-year term, in compliance with local laws. Only legal entities or associations thereof are eligible to participate.EERSF administers the financial resources received by the Republic of Bulgaria in accordance with the current legislative framework and agreements with major donors.EERSF is structured as a self-sustaining commercial entity that focuses on facilitating investments in energy efficiency and promoting the development of a functioning energy efficiency market in Bulgaria. The...

  Read more
•  

  29.09.2023

  International

  EP Case Law in Brief: Erroneous Disclosures

  “Mistakes in a document do not in themselves constitute prior art such as to prevent the grant of a patent.”So begins section I.C. 4.9 of the Case Law of the Boards of Appeal. This statement, and the accompanying case law, provides for the possibility of a ‘get out of jail free card’ for novelty objections in certain circumstances.An invention is "considered to be new if it does not form part of the state of the art". The "state of the art" is defined as "everything made available to the public by means of a written or oral description, by use, or in any other way, before...

  Read more
•  

  27.09.2023

  EU

  DAC 8 Proposal approved by the European Parliament

  BackgroundIn recent years, the crypto-asset landscape has steadily grown and has reshaped the world of payments and investments. Today such assets have an estimated market capitalization of USD 1.09 trillion (Forbes, 2023). This highlights the relevance of these types of assets and the tax authorities’ interest in obtaining more information to carry out appropriate controls. It also makes it possible to propose tax rules adapted to this new paradigm and technology which allows the transfer of important amounts of money, in certain cases with opacity.Recently, on 13 September 2023 the European...

  Read more
•  

  27.09.2023

  Europe

  The European Corporate Sustainability Due Diligence Directive (CSDDD) – Where are we?

  What is CSDDD?On 23 February 2022, the European Commission published its proposal for a Directive on corporate sustainability due diligence (the “Proposal”), which aims to foster sustainable and responsible corporate behaviour throughout global value chains. The Proposal requires in-scope companies to identify, and, where necessary, prevent, mitigate or end, any actual or potential adverse impacts that their operations, and the operations of entities in their extended supply chains, have on human rights and the environment. This is in addition to the reporting obligations that currently...

  Read more
•  

  21.09.2023

  Bulgaria

  Whistleblowing compliance in Bulgaria – New ordinance provides further guidance

  The Commission for the Protection of Personal Data (CPPD) has adopted the Ordinance on the maintenance of the register of whistleblowers pursuant to the Whistleblowing Act, which entered into force on 4 August. Its aim is to bring clarity to the requirements for the internal register of whistleblowers, which legal entities covered by the Act must maintain from May this year. The Act is already in force for private employers with more than 250 employees, and employers with between 50 and 249 employees will have to comply with its requirements before 17 December 2023.As part of the provisions of...

  Read more
•  

  19.09.2023

  International

  Trading of crypto-assets in detail

  The Markets in Crypto-Assets Regulation (MiCAR) sets down a harmonised regulatory framework for service providers known as crypto-asset service providers (CASPs), which carry out activities with crypto-assets that fall within the regulation's scope. The following article describes the MiCAR requirements applicable to persons providing services related to crypto-asset trading.DefinitionMiCAR introduces enhanced legal requirements that will apply to service providers carrying out professional activities related to trading crypto-assets. The crypto-assets trading activities that MiCAR identifies as...

  Read more