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Europe Guide

Tax — Bulgaria


Djingov, Gouginski, Kyutchukov & Velichkov - Tax Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

What the team is known for Best known for assisting banks and non-bank financial institutions with a wide range of tax matters. Regularly advises Bulgarian and international clients on the tax structuring implications of cross-border corporate and financial transactions. Participates in work encompassing all tax-related aspects of business operations, including VAT and tax litigation, as well as individual taxation.

Work highlights Assisted Bulrom Gas with excise duty on energy products and the payment of excise duty for lost cargo.

Advised AbbVie on VAT and corporate income tax on the lease of company vehicles and the potential use of company assets for personal purposes.

Notable practitioners

Viara Todorova is a market-leading tax specialist who is held in high esteem by sources, who describe her as "an expert in VAT." She regularly engages in a wide range of tax advisory work, as well as tax litigation. She advised Proficient City on historic VAT liabilities on electronically supplied services to EU consumers.

About the Team (content provided by Djingov, Gouginski, Kyutchukov & Velichkov)

DGKV advises on:

  • general corporate and commercial tax matters;
  • transactions tax structuring;
  • VAT registrations;
  • tax aspects of Mergers and Acquisitions;
  • all types of asset-based financing;
  • debt and equity capital markets and investments;
  • general advice and reviews on direct or indirect tax liability and customs duty and compliance procedures;
  • individual taxation (executives and expatriates);
  • tax claims in insolvency;
  • avoidance of double taxation;
  • tax aspects of wholesale and retail transactions;
  • tax disputes;
  • advising individual resident and non-resident clients on optimization of their investments, on the transfer of owned estates from legal and tax point of view;
  • developing and implementing international corporate tax planning strategies in Bulgarian context.

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Kambourov & Partners - Tax Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

What the team is known for Highly regarded team advising sizeable domestic and international clients on all tax-related matters, with special expertise in VAT, corporate tax and sensitive contentious tax proceedings. Notable activity on M&A-related matters, double tax treaties and customs duties. Acts for clients from a variety of industry sectors, including food and drink, financial services, automotive and construction.

Strengths Clients praise the team's "excellent" level of services provided, one noting that its main strengths are "legal knowledge, commercial orientation, responsiveness and attentiveness to clients." The lawyers "do their very best to respond to clients' needs at any time. We highly appreciate the strategic thinking, pragmatic advice and fluid communication with both partners and associates."

Another client highlights the team's "understanding of our issues and knowledge of the tax process" and also underlines the firm's "excellent expertise" in international as well as Bulgarian tax law.

Work highlights Assisted Mazars with an application of double tax treaties.

Advised Colore A on the group's tax restructuring and represented the group in tax proceedings before the National Revenue Agency.

Notable practitioners

Todor Todorov is a "vastly knowledgeable" tax lawyer who is singled out for his "calm and cool approach even with tight deadlines." Clients report that he "speaks the language of your business," and he is described as "very supportive and attentive" as well as a "strong negotiator." Todorov has a broad tax practice, assisting clients with VAT matters, tax restructuring and the taxation of employees. He also represents clients in tax litigation.

Clients describe Zahari Naumov as "smart and hard-working" and add that "working with him has been really easy and pleasant." He particularly assists clients with VAT and excise duty issues, and has a number of clients from the food and drink and infrastructure sectors.

About the Team (content provided by Kambourov & Partners)

With a client portfolio featuring large and medium-sized local and international clients, the team advises on all tax-related matters, including tax optimization, compliance, transfer pricing, tax assurance and estate planning.

The practice specializes in both corporate taxation and the VAT, as well as all other direct and indirect taxes and fees, tax planning, M&A tax planning, planning and mitigation of negative financial results customs-related legal services and advice on Bulgarian accounting standards. The team counts on an in-depth knowledge of international taxation, specifically applied in the interpretation of double tax treaties.

Clients are represented in administrative and court proceedings connected with levying of tax and other public obligations, and imposition of administrative sanctions and penalties, including before the Revenue Administration and other State and local institutions. The team enjoys a particularly high rate of favorable outcomes in tax and other administrative litigation.

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Tabakov, Tabakova & Partners - Tax Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

What the team is known for Established presence at the top end of the Bulgarian tax market, providing advice on a wide range of tax matters including double taxation treaties and VAT-related matters. Offers a particular focus on dispute resolution. Known for supporting clients from sectors such as banking, energy and technology.

Strengths Clients praise the team's overall helpfulness: "The quality of the services provided has always been excellent - the assignments have been fulfilled precisely and on time."

Another client reports that the team has been "very successful at resolving problems and knows the specifics regarding tax law."

Notable practitioners

Seen by peers as a "leading individual," Todor Tabakov is admired by clients for his "profound expertise" in tax law and his ability to provide "high-quality legal services." Clients also appreciate that his "explanations are really understandable." He has a broad tax practice, advising clients on VAT issues, double taxation treaties and tax liabilities. He is highly sought after for both contentious and advisory matters.

Lyubomir Tabakov is respected by interviewees for his tax law expertise. He engages in a wide range of tax work, including corporate taxation, VAT advice, double tax treaties, transfer pricing and litigation.

About the Team (content provided by Tabakov, Tabakova & Partners)

TTP advises on all tax matters, such as corporate taxation, withholding taxes, taxation of individuals, VAT matters, excise and customs duties. We provide tax due diligence and M&A structuring advice, assistance during tax audits and investigations.

TTP has an outstanding tax litigation practice. 

Client base includes both individuals and corporations.

TTP's recent work has been marked with success in a number of complex VAT and CIT cases.  

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Boyanov & Co. - Tax Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

What the team is known for Expert team providing a wide range of tax advice concerning corporate transactions, restructuring and VAT, with particular strength in tax litigation. Acts for clients from a number of sectors, such as financial services, technology and pharmaceutical, on both domestic and cross-border mandates. Notable knowledge of double taxation treaties and international tax matters.

Strengths Market commentators admire this "very good" team, particularly highlighting the department for its "depth of experience." Clients are "very satisfied" with the team's support.

Interviewees report that the firm "has a good practice" in the area and add that it is a "strong tax practice" with "good tax lawyers."

Work highlights Advised Pharmaplast on tax aspects related to their ongoing investments into Bulgaria and the opening of a new facility, including advice on corporate tax, VAT and personal tax.

Assisted Kamenitza with the real estate tax and VAT structuring of a mixed-purpose real estate project.

Notable practitioners

Head of department Yordan Naydenov acts for clients in the field of real estate and corporate taxation. He recently assisted the European Investment Fund with the implementation of the JEREMIE initiative in Bulgaria. He also advises on the taxation of the acquisition and disposal of assets.

About the Team (content provided by Boyanov & Co.)

BOYANOV & Co. provides specialized tax advice and guidance on all aspects of doing business in Bulgaria, such as:

  • tax advice on M&A and other transactions;
  • tax advice on merger and de-merger procedures, corporate reorganisations, winding – up and liquation;
  • advice on tax implications of inbound and outbound investments’ projects;
  • VAT consulting;
  • representation in tax disputes and tax litigation
  • tax advice related to day-to-day business
  • application of double taxation treaties
  • tax treatment of virtual currencies (such as bitcoins and other virtual coins)

Since 1990 BOYANOV & Co. has successfully represented clients, both corporate and HNW individuals, in multiple tax disputes and tax related administrative cases before the tax and customs authorities and other government agencies and before the administrative courts. The firm has assisted in clients to reject unjustified claims for millions of BGN.

Whenever advising on tax matters the firm takes balanced and reasonable approach, basing its advice and opinion on the fair and sound interpretation of the law, its international sources and the pre-dominating practice of the tax authorities.

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Georgiev, Todorov & Co - Tax Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

What the team is known for An impressive firm in the tax litigation space, acting on an extensive range of cases concerning tax liabilities and customs duties. They also advise on personal tax and corporate tax. Notably represents a number of prominent energy clients.

Strengths The team is praised for its attentiveness to clients' needs as well as its "wealth of experience." Clients further describe the team as "excellent litigators and tax experts" who offer "great flexibility and good communication."

Another client notes: "They can handle complex matters with speed and effectiveness."

Work highlights Represented Brikel thermal power plant in two appeals against the Customs Administration's refusal to refund excise duties.

Advised Pernik heating plant on court disputes concerning refunds of excise duty.

Notable practitioners

Georgi Kostolov is an "excellent communicator" who "possesses deep knowledge of the specifics of tax law and has valuable, practical experience." He regularly represents clients in appeals against tax decisions, including customs duties and the Bulgarian Tax Assessment Act. Clients are "impressed by his accuracy."

About the Team (content provided by Georgiev, Todorov & Co)

Our tax group offers a comprehensive planning and consulting service to various clients providing specialist tax advice in the areas of corporate finance, banking, financial services and real estate. We are in a position to strongly and successfully argue in favour of the firm’s clients before the Bulgarian tax authorities in case there are differences in tax law interpretation.

The head of our team is the highly experienced and valued lawyer Mr.Georgi Kostolov, who is a specialist on tax issues for more than 15 years. He started his career as a legal advisor in a regional tax office of the Bulgarian Tax Administration (BTA) and went through all levels to chief tax expert in the Headquarter of the BTA. He was a senior tax expert at Deloitte Bulgaria.

Mr. Kostolov is a member of the Tax and Legal Committee of the Confederation of the Employers and Industrialists in Bulgaria – the biggest Bulgarian employers’ organization.

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Wolf Theiss - Tax Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

What the team is known for Offers considerable expertise in tax aspects of corporate restructuring, M&A and tax indemnity insurance. Particular experience with clients seeking to develop large-scale energy projects. Recently concentrating more on transfer pricing matters and tax law disputes.

Strengths Clients highlight that "a big benefit is their international exposure" and particularly underlines the firm's "understanding of the cultural issues."

Work highlights Represented KS Energy in a dispute with the Bulgarian tax authorities concerning alleged violation of transfer pricing regulations.

Advised Ironshore and Pembroke Managing Agency on the tax liability limitations for the buy-side warranty and indemnity report for the acquisition of Devin.

Notable practitioners

Sources report that Atanas Mihaylov provides a "very high standard of service," while other interviewees describe him as "very focused and determined." He assists clients with tax liability issues and tax structuring in transactions, tax compliance and tax law disputes.

About the Team (content provided by Wolf Theiss)

Uniquely for a law firm acting on the Bulgarian market we have strong tax expertise. Tax law is notoriously complex but our approach is always to keep things as simple and clear-cut as possible. Thus, our clients rely on clear and authoritative guidance to achieving successful results.

Our Reputation

Our tax team has an unparalleled track record of successful tax disputes and litigation cases. We bring together detailed knowledge of national and international tax law in order to access relevant expertise quickly and seamlessly.   

Our Cases

Our clients come to us for large complex and often cross-border cases because of our experience with such matters and our ability to take into account all legal and tax aspects of a case at once. Wolf Theiss won three landmark cases related to input VAT recovery on project infrastructure for Sofia Park; these cases changed the practice of the Supreme Administrative Court.

Our Role

Our experience covers a wide range of disciplines from corporate restructurings to tax disputes and litigation, stock option plans to VAT issues, cross-border leasing to private foundations.  In each
case, we offer legal advice designed to get quick, effective and efficient results.



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CMS - Tax Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

What the team is known for Notable expertise in tax issues relating to domestic and cross-border projects and transactions. Further assists clients with a wide range of tax law matters, including tax audits, restructuring and withholding tax. Also offers a considerable presence in VAT advisory work.

Work highlights Advised Edenred on the tax aspects of a restructuring.

Assisted ISG with VAT and contentious tax law matters.

Notable practitioners

Alexander Rangelov is a key contact for tax matters.

About the Team (content provided by CMS )

We advise clients in all areas of tax law, including tax audits and accounting issues, we represent clients before tax authorities. Our services range from on-going tax advice to assistance in large international transactions. Our tax experts assist clients in restructurings, M&A transactions, restructuring, reorganisation and liquidation of companies, etc.
Our team provides highly professional tax advice and services through building lasting business relationships with our clients based on professionalism and client-attorney trust.

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Delchev & Partners Law Firm - Tax Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

What the team is known for Covers all aspects of tax law, with notable expertise in tax litigation and VAT issues. Also advises on withholding tax and double tax treaties. Works with a broad Bulgarian and international clientele. Considerable experience working for clients from the oil and gas sector.

Work highlights Assisted HBO Bulgaria with tax compliance matters.

Advised Garbuio on a withholding tax issue and a double tax treaty issue.

Notable practitioners

Joint heads of department Veselina Petkova and Galina Slavova are the primary contacts for the practice.

About the Team (content provided by Delchev & Partners Law Firm)

Department profile not yet provided by Delchev & Partners Law Firm. Please see their firm profile.

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Dimitrov, Petrov & Co. - Tax Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

What the team is known for Notable services in restructuring and day-to-day tax matters, and activity on the tax elements of sizeable corporate and property transactions. Offers further experience of complex tax litigation, supported by knowledge of double taxation treaties, VAT and excise duties. Growing focus on transfer pricing matters.

Strengths Clients particularly highlight the firm's commercial approach: "They really try to understand the essence of our business so that they are able to suggest the right approach, not only from the legal side, but also business-wise."

Clients also appreciate the reactivity of the lawyers, noting that they "are very responsive and ready to work under tough deadlines."

Work highlights Represented MTK Sport in an appeal against a tax inspection report by the National Revenue Agency.

Assisted HeleCloud with the tax aspects of setting up a start-up company.

Notable practitioners

Clients describe Boyana Milcheva as a "lawyer with strong expertise and knowledge in the area of tax law and court proceedings." She assists clients with tax planning, restructuring, double taxation and tax litigation.

About the Team (content provided by Dimitrov, Petrov & Co.)

Department profile not yet provided by Dimitrov, Petrov & Co.. Please see their firm profile.

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Dobrev & Lyutskanov Law Firm - Tax Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

What the team is known for Strong tax litigation practice with a recent focus on tax audits. Frequently represents clients before the administrative courts and the National Revenue Agency. Experienced in the enforcement of double taxation agreements as well as inheritance tax and withholding tax. Also advises on VAT matters.

Work highlights Represented the Bulgarian Green Building Council in proceedings before the Administrative Court of Sofia City related to refused VAT credit.

Advised Mevgal Bulgaria on matters relating to the Tax Audit Act.

Notable practitioners

Grozdan Dobrev is a co-founder of the firm and a key contact for its tax practice.

About the Team (content provided by Dobrev & Lyutskanov Law Firm)

Department profile not yet provided by Dobrev & Lyutskanov Law Firm. Please see their firm profile.

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Band 1

Tabakov, Tabakova & Partners

From the Chambers Europe guide

Seen by peers as a "leading individual," Todor Tabakov is admired by clients for his "profound expertise" in tax law and his ability to provide "high-quality legal services." Clients also appreciate that his "explanations are really understandable." He has a broad tax practice, advising clients on VAT issues, double taxation treaties and tax liabilities. He is highly sought after for both contentious and advisory matters.

^ See whole ranking table

Band 1

Kambourov & Partners

From the Chambers Europe guide

Todor Todorov is a "vastly knowledgeable" tax lawyer who is singled out for his "calm and coolapproach even with tight deadlines." Clients report that he "speaks the language of your business," and he is described as "very supportive and attentive" as well as a "strong negotiator." Todorov has a broad tax practice, assisting clients with VAT matters, tax restructuring and the taxation of employees. He also represents clients in tax litigation.

^ See whole ranking table

Band 1

Djingov, Gouginski, Kyutchukov & Velichkov

From the Chambers Europe guide

Viara Todorova is a market-leading tax specialist who is held in high esteem by sources, who describe her as "an expert in VAT." She regularly engages in a wide range of tax advisory work, as well as tax litigation. She advised Proficient City on historic VAT liabilities on electronically supplied services to EU consumers.

^ See whole ranking table

Band 2

Wolf Theiss

From the Chambers Europe guide

Sources report that Atanas Mihaylov provides a "very high standard of service," while other interviewees describe him as "very focused and determined." He assists clients with tax liability issues and tax structuring in transactions, tax compliance and tax law disputes.

^ See whole ranking table

Band 2

Savov & Partners

From the Chambers Europe guide

Valentin Savov of Savov & Partners assists clients with tax structuring, tax compliance and tax treaty matters. Clients appreciate that he is "effective, punctual, reliable and creative" and feel that "when I work with him my business is taken care of in the best manner possible." Another client emphasises: "He is also very disciplined, organised, focused and result-oriented."

^ See whole ranking table

Band 3

Georgiev, Todorov & Co

From the Chambers Europe guide

Georgi Kostolov is an "excellent communicator" who "possesses deep knowledge of the specifics of tax law and has valuable, practical experience." He regularly represents clients in appeals against tax decisions, including customs duties and the Bulgarian Tax Assessment Act. Clients are "impressed by his accuracy."

^ See whole ranking table

Band 3

Dimitrov, Petrov & Co.

From the Chambers Europe guide

Clients describe Boyana Milcheva as a "lawyer with strong expertise and knowledge in the area of tax law and court proceedings." She assists clients with tax planning, restructuring, double taxation and tax litigation.

^ See whole ranking table

Band 3

Boyanov & Co.

From the Chambers Europe guide

Head of department Yordan Naydenov acts for clients in the field of real estate and corporate taxation. He recently assisted the European Investment Fund with the implementation of the JEREMIE initiative in Bulgaria. He also advises on the taxation of the acquisition and disposal of assets.

^ See whole ranking table

Band 3

Tabakov, Tabakova & Partners

From the Chambers Europe guide

Lyubomir Tabakov is respected by interviewees for his tax law expertise. He engages in a wide range of tax work, including corporate taxation, VAT advice, double tax treaties, transfer pricing and litigation.

^ See whole ranking table

Associates to watch

Kambourov & Partners

From the Chambers Europe guide

Clients describe Zahari Naumov as "smart and hard-working" and add that "working with him has been really easy and pleasant." He particularly assists clients with VAT and excise duty issues, and has a number of clients from the food and drink and infrastructure sectors.

^ See whole ranking table