In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on November 04, 2016
The Combined review assessed Bulgaria’s legal framework as well as its implementation in practice. The report concludes that Bulgaria is overall largely compliant with the international standard on transparency and exchange of information. Nevertheless need for improvement was identified in respect of availability of ownership information on companies which can issue bearer shares and certain gap remains in respect of foreign companies and partnerships conducting business in Bulgaria and foreign trusts. The relevant laws and regulations are properly implemented in practice. However, supervisory and enforcement measures taken by the registration authority should be further strengthened. Bulgaria has in place processes and resources to ensure timely provision of the requested information in the majority of cases and it is considered by its peers an important and reliable EOI partner. For further information on the exchange of information practice of Lebanon and to read the full report click here.