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Restrictions on Off-Shore Companies to do business in Bulgaria

In absence of public discussions as of 1 January 2014, a new law was passed, banning the off-shore companies and their affiliates from participation in key economic areas where public funds are allocated. The objective of the new Act for Economic and Financial Relations with Companies Registered in Jurisdictions with Preferential Tax Regime and Their Beneficial Owners (off-shore zones) ("the Act") is to prevent use and management of public funds by off-shore companies and tax evasion.

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Anna
Rizova
Partner
Bulgaria

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