The sweeping digital transformation has significantly changed the economic and financial landscape, and at the heart of this change is the emerging phenomenon of cryptocurrencies. With this innovative fusion of finance and technology, the pertinent question of how to tax these new assets arises. Bulgaria, like its global counterparts, is grappling with the complexities of this issue. Dive in for an in-depth look at Bulgaria’s approach to taxing crypto assets.

Following the Constitutional Court’s (“TCC”) decision annulling the monetary limits for appeal in administrative jurisdiction, the TCC has annulled the regulation that no appeal can be filed against decisions on cases of tax and full remedy and actions of annulment of administrative acts, the subject matter of which does not exceed five thousand liras, as well as the regulation regarding the revaluation of monetary limits. The decision will enter into force on September 21, 2024, nine months after its publication in the Official Gazette.

BSJP BNT has helped Kapsch Telematic Services secure a public procurement contract for the provision of direct customer support services for the electronic toll collection system of the National Tax Administration in Poland.

According to the opinion released yesterday by the advocate general of the European Court of Justice, the Hungarian regulation that prohibits foreign taxpayers from submitting their documents in the second instance (appeal) procedures in VAT refund cases violates European law. If the final judgment will align with this opinion, it would not only simplify the process for foreign businesses to claim VAT refunds in Hungary but would also open the possibility to reclaim previous VAT payments.

In the summer 2022, the United States unilaterally terminated the US-Hungary double tax treaty with Hungary.

Vasil Kisil & Partners has successfully represented the interests of Kischenzi in a tax dispute.