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2011-11-04
Annual balancing of Limited companies |
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"PYS Consult" Ltd. reminds its clients, who have registered companies in Bulgaria in 2011 that the newly formed ones are subject to annual balancing in relation to the regulations of the Corporate Income Taxation Act. The financial year starts from 01st of January to 31th of December and the tax return should be submitted no later than 31th of March. The taxes must be paid within a period of 15 (fifteen) days as of the date of submitting the Tax return declaration. Each company (operational or dormant), during the tax period must submit a Tax return declaration. The fine for failure to submit this is 2500 BGN. You, as Managers or shareholders (associates) in these companies, are personally responsible to make sure these documents are submitted on time to the respective tax authorities and offices. |
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2008-10-31
National Conference |
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At the end of October month under the patronage of the President Georgi Parvanov in Sofia was held a National Conference Property fraud - problems and counteraction, organized by the Union of Jurists in Bulgaria. In his speech, the President focused on stabilizing the economy, based on clear ownership relations, which inevitably is a prerequisite for achieving social progress, continuing of democratic processes and improving all areas and sectors of the social, business and economic life. According to the head of state in the Constitution are laid down complex requirements and therefore are introduced a number of legal mechanisms against abuse of rights, monopoly and unfair competition, these rules are focused at creating of security and protection of the civil and economic interests. Despite the already established legal protection, however there is still lack of complex of legal legislations and regulations to fill in the vacuum in the normative organization.
To participate in the conference were invited also the Chairman of the Supreme Court of cassation in Bulgaria, Professor Lazar Gruev, Chief Prosecutor Associate professor Boris Velchev, Minister of Justice Mrs. Miglena Tacheva and Minister of Interior Mr. Mihail Mikov. The main purposes of the conducted conference are changing the Bulgarian criminal and civil legislation in order to prevent and counteract crimes related to property and to optimize the interaction between the state institutions in the country in the fight against property fraud. Considering the opinions of the participants in the forum it was categorically concluded that property frauds are definitely a threat to the country's legal system. The mass practice of creating false and not genuine powers of attorney, wills and other types of documents to be used for the transfer of property and disposal of other real rights, was discussed as well. It was noted that in carrying out these frauds the beneficiaries are individuals - tramps or people with mental abnormalities, not bearing criminal responsibility, which speaks of the existence of flexible and refined property mafia, assisted by the lawyers and relying on the support of notaries.
A number of measures were proposed, they were related to initiating of a change in our national legislation in connection with the process of transferring real estates. Also it was mentioned that some of the regulations, creating legal mechanisms in the Bulgarian civil law had not been changed as ideology for more than thirty years. It was recorded also the urgent need for updating the laws, defining the way for transformation of property, considering a number of altered factorsin the national economic reality and the greatly developing property market. Identified were specific measures for prevention, as one of them was limitation of the number of people who may be proxies in real estate and legal transactions, modernization of the process of publishing and archiving of official documents such as proxies, drawings and certificates for inheritors. The lawyers involved in the forum suggested the Ministry of Justice, along with the Notary Chamber and non-governmental organizations to analyze and initiate changes in the civil legislation in order to expedite the proceeding in civil cases, in which a sinister element exist in the ownership of real estate, as well as providing controlled, motivated and permited access to records of the Registry ofices. By the Chairlady of the Board of the Bulgarian Association of Judges Registrars " Mrs. Margarita Shivacheva it was developed and a new idea for establishing a register of powers of attorney, which will allow to be determine whether the present will of the authorizer is still valid or the given powers are withdrawn. This is a possibility to provide a preventive mechanism that ensures the prevention of fraud unreal proxies. This will minimize the risks at the time of the transfer of ownership by proxy before a notary, as well as when issue a certified copy of the deed from the Judge Registrar.
Speaking to the participants in the forum organized by the "Union of Jurists in Bulgaria and the Ministry of Justice with the assistance of the Ministry of Interior, the Supreme Judicial Council, the Supreme Court of Cassation , Prosecutor's office, the National Investigation Service, the Supreme Bar Council and Notary Association, there were marked the emerging issues at that the public sector. From the reports read at the conference it was clearly outlined the need to reform the legislative mechanisms to protect the rights of an owners of real estate. As one of the main problems laid down were the mechanisms for issuing Certificates for inheritors, the lack of opportunity to carry out checks on delegation of authority and withdrawal rights related to real estate and many legal uncertainties regarding criminal responsibility for crimes related to real estate properties. The chairman of the Notary Association notary Dimitar Tanev presented a set of ideas for development and changes in the Notary non-contentious proceedings, creating more safety for notaries in checking the identity of people involved in real estate transactions. The Chairlady of the Board of the Bulgarian Association of Judges Registrars Mrs. Margarita Shivacheva - Judge Registrar provided a motivated motion for the creation and implementation of a Uniform National register of entry and withdrawal of proxies in order to prevent property fraud.
In the accepted final Declaration it was offered the Ministries of Interior, Justice, Regional Development and Public Notary Association to find a common solution for controlled and motivated remote access of notaries to the array at the Ministry of interior of identification documents, books and records of the Registry Office and ESGRAON . With the proposed innovations at the Conference will be created significant guarantees of civil and business turnover in the country and will protect the interests of Bulgarian citizens and foreign investors of one hand. On the other, it will assist the process of unloading our already overworked judicial system of many cases, which are the only way of protection under the current legislation. The introduction of these preventive means will impede the possibility of carrying out abuses from unconscientious citizens and it will create a secure climate in our country as part of the Euro zone. The settlement of those public relations adequately, a way meeting the needs of the changed reality, will establish Bulgaria as a favorable investment environment in the European Union.
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2008-10-24
ACTUAL PRACTICAL ISSUES, CONCERNING THE ENTRY OF CIRCUMSTANCES IN THE TRADE REGISTER BY BATCH OF MEDICAL ESTABLISHMENTS TRADERS ENTITIES |
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Resume:rnThe article presents a brief description of the new Law of Commercial Register. The actuality of the topic is been adduced, because of the three-year period given, in which all traders should conduct its services under the new rules. Adverse consequences of waiving the company are clarified, which are primarily related to the impossibility of certain facts, documents and circumstances to be published in the register. For the medical institutions themselves, the most important consequence is that the rights of the newly appointed management and representative bodies of the hospital occurred only after the entry of this fact in the register. It has been done an analysis of several hypotheses of non-entries, for example - lack of validation of copies of the acts of medical establishments, breach of the circle of persons who may be applicants in entry features in medical entities, which are managed by a procurator , problems with depositing the application electronically and others. Finally the legal consequences of missing the deadline for the preregistration services are presented. Overall, the article aims practical usefulness and prevention of errors and is accompanied by selected jurisprudence on the most common problems.rnrnAuthor - Peter BAKARDZHIEV is a lawyer at a Law Company "PYS Consult Ltd. and VIP Trading Inc Ltd. He has been a consultant to a number of medical entities, District Health Centres, Sofia Municipality. He has worked in the area of administrative, commercial, medical law and trade procedures. He is a legal expert and member of the Bulgarian Association of Judges Registrars. |
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