Seminar with Deloitte - New Tax Regulations and Their Impact on Business & Networking with Confindustria Bulgaria & BBBA

Dear partners,

We are thrilled to announce that, for the second consecutive year, BBBA, the French-Bulgarian Chamber of Commerce and Industry, and Confindustria Bulgaria, in partnership with Deloitte Bulgaria, cordially invite you to the joint seminar titled "New Tax Regulations and Their Impact on Business: What Do We Need to Know?"

Join us on 26 September (Thursday) from 15:00 - 18:00 h at the UniCredit Bulbank International Center (8 Aksakov Str.). Don’t miss this opportunity to stay informed and ahead in your business dealings!

During the event, we will delve into latest advancements and provide practical wisdom around EU Tax legislation implemented / to be implemented in Bulgaria, as well as hands-on understanding on how to effectively get prepared for interactions with the local Tax authorities in certain situations.

We will put particular emphasis on the following topics:  

SAF-T Implementation in Bulgaria | Recent Developments and Practical Insights

• The Bulgarian revenue authorities are preparing for the introduction of SAF-T (standard audit file for tax) reporting in Bulgaria in 2025. While the draft legislation is expected in the autumn, a draft schema for SAF-T was already published and provides insights into the type of information that businesses will be required to report to the revenue authorities along with the expected level of details.

• Already present in a number of countries in Europe, SAF-T encompasses accounting and tax information provided to the authorities in a structured format enabling the easier review and audit of information. Based on our experience in Poland and Romania, we will provide practical information concerning the implementation process and reporting and the challenges companies may have to tackle while working on the implementation.

15% Global Minimum Tax for Large Multinational and Domestic Enterprise Groups (Pillar 2) | Practical Insights from the First 9 Months of Implementation in Bulgaria

• In a continued effort to put an end to tax practices of multinational enterprises (‘MNEs’) that allow them to shift profits to jurisdictions where they are subject to no or very low taxation, the OECD has developed a set of international tax rules to put a floor on competition over corporate income tax rates through the establishment of a global minimum level of taxation. The OECD initiative and the respective EU Directive 2022/2523 were implemented in Bulgaria and entered into force on 1 January 2024.
• The rules apply to entities located in Bulgaria that are members of MNE groups or large-scale domestic groups that meet the annual threshold of EUR 750M of consolidated revenue in at least two of the last four fiscal years.  The effective tax rate for such entities should be at least 15% for a given tax year.
• We will share our practical insights from the first 9 months of the rules being in force in Bulgaria, such as key compliance requirements, key details of application (adjusted covered taxes, substance-based income exclusion, ETR calculation) and, last but not least, what action we are seeing Bulgarian businesses doing with respect to Pillar 2.

Recent Developments in Tax Audits and Disputes

• Tax inspections and audits are becoming a more and more relevant topic for companies, as we see increased attention on tax matters and regular control from tax authorities.

• We will share the latest developments that we observe in the course of ongoing tax inspections and audits - focusing on all tax areas, but especially on transfer pricing and indirect tax. We will also present the most relevant recent judgements of the Supreme administrative courts and the trends we see in them for businesses to consider going forward.

Our speakers

Date and location:

26 September (Thursday)

15:00 - 18:00

UniCredit Bulbank International Center

8 Aksakov Str.

Working language: English

Participation fee: The event is free of charge, seats are limited

For registration: To register for the event, please click the button below.

A coffee break and a networking cocktail will be provided by the organizers.

Georgi Simeonov

Partner in Charge

Alexander Cherinko

Partner

TsvetelinaKemalova

Director

YoanaPetkova

Senior Manager

Vasil Lenkov

Senior Manager

Elitsa Yordanova

Manager

The seminar is suitable for:

• CEOs
• CFOs
• Head of Finance
• Tax & Legal experts