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For a fourth year in row Danailova, Todorov and Partners law firm is TOP-ranked by Legal 500 in the sector of Transport (including Shipping). This acknowledgment comes after years of hard work and great feedback by clients and partners. Kaloyan and Maria are the leading individuals in Bulgaria.

A benefit for a certain category of enterprises, which didn’t implement business activity within the previous year under review, has been adopted with the amendments of the Accountancy Act (SG 92-2017). These enterprises are for example every type of merchants (Sole proprietors, Limited liability companies, joint-stock companies, co-operations, etc.); branches of foreign merchants; local legal entities, which are not merchants (for instance non-profit legal entities – associations and foundations, etc.); consortiums (as commercial entities and joint ventures); commercial agencies; foreign legal entities (under specific conditions); etc. (“Enterprises”). For more details: http://lawfirm.bg/en/publications/104-declarations-for-lack-of-business-activity-replace-the-publication-of-zero-annual-financial-reports

During the last weeks, lots of clients contacted us in connection with the VAT registration of joint ventures/ consortiums (JV) with at least one VAT registered shareholder. The JV (also called ‘consortium’) under the Contracts and Obligations Act are widely used for participations in public procurement procedures.

Since January 2017 the amendment of the VAT Act concerning the VAT registration of JV came into force. The JVs with at least one VAT registered shareholder have to be VAT registered within a 14-day term as of the date of the JV agreement. Under the previous regulation, the VAT registration term began as of the registration with the BULSTAT register. The fines for breaching the VAT registration deadline start form BGN 500.

Chambers Commentary (based on the Chambers research)

What the team is known for Well-respected domestic firm that is a popular choice for construction, transport and recruitment clients. Assists with the drafting or review of temporary or flexible employment contracts. Also provides support in regulatory and compliance matters, including those relating to EU or Bulgarian working time and health and safety regulations.

Strengths Clients say that the lawyers are "quick and efficient," adding: "I like their friendly manner and thorough approach."

Interviewees also appreciate the lawyers' "personal attitude, their involvement and the perfection in their work."

Notable practitioners

Maria Danailova leads the team and is a key point of contact.

For a third consecutive year Danailova, Todorov and Partners Law Firm (lawfirm.bg) has been recommended by Leagl500 as a TOP-TIER FIRM in transport.