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Transfer pricing is an important aspect of global commercial relationships that directly impacts the profitability and tax obligations of multinational businesses. A key concept in the international taxation is the arm’s length principle defined in the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. Generally, it states that transactions between related parties should…

Amendments to the Accountancy Act promulgated in SG No. 72 of 27.08.2024 entered into force retroactively – 06.07.2024, include a new obligation for sustainability reporting, higher thresholds for enterprise categories, new thresholds for mandatory financial audit, documentation in euros and in a foreign language.   I. Sustainability Reporting Art. 1, para 3 of the Accountancy…

I. Redomiciliation Redomiciliation is now possible under the procedure of Art. 265t et seq. of the Commerce Act. A redomiciliation is carried out when a company with registered office in Republic of Bulgaria (the transforming company) transfers its registered office and adopts the legal form of a company that was established in accordance with the…

We are thrilled to announce that Baker Tilly South East Europe has signed a Memorandum for Cooperation with the Association of Certified Fraud Examiners (ACFE) in Bulgaria! This partnership marks the beginning of a strong collaboration focused on joint activities in the implementation of projects related to fraud detection and prevention, organization of events for…

Unveiling the Vital Role of Internal Audit in Today’s Business Landscape Article by: Nicoletta Savva – Manager, Governance, Risk and Compliance Services, Baker Tilly South East Europe   Why is Internal Audit even more relevant today? Internal audit functions serve as the guardians of integrity, efficiency, and compliance, playing a pivotal role in safeguarding assets, enhancing…