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Europe Guide

Tax — Bulgaria


Kambourov & Partners - Tax Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- 3 partners
- 2 other qualified lawyers

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 in M&A-related matters, double tax treaties and customs duties.

Strengths In one observer's opinion: "When clients expect well-connected experts to handle tricky situations, they would choose Kambourov."

One client describes them as "a very prepared and proactive team, accessible, adaptable, great technical skills, highly specialised and business focused."

Work highlights Advised Iberdrola Inmobiliaria on all tax matters associated with its Bulgarian operations, including representing the company in VAT-related proceedings and in appeals against the National Revenue Agency. The team also prepared a claim against the ECJ in relation to the tax regime of one of the biggest investments in Bulgarian infrastructure.

Ongoing tax and customs advisor to Lidl Bulgaria, as well as its representative in tax litigation. Inter alia, the team advises on double tax treaties, the regime for tax cash accounting and tax assessment appeals before the Supreme Administrative Court.

Significant clients Bosch-Siemens Home Appliances Bulgaria, Lufthansa, WizzAir, UniCredit Leasing, AP Mart.

Notable practitioners

Todor Todorov is an "incredible performer" who assists with all local and international tax matters. One client regards Todorov as "the top for tax law, the best at navigating respective public administrations and at managing complex cases before the courts."

Zahari Naumov is "solution-oriented, responsive and quick" in his comprehensive tax advice. Sources also say that he is "very active - he's not missing anything, he's quick in thoughts and actions in a courtroom."

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 double taxation treaties, corporate tax and VAT-related matters. Offers further expertise in international tax planning, tax litigation and dispute resolution on Bulgarian audit and customs tax.

Strengths One competitor regards the firm as "the best in the market for double taxation."

Notable practitioners

Todor Tabakov is a leading figure in the Bulgarian tax market, with one interviewee noting that "the groundbreaking decisions in taxation are his." He continues to be considered a "very good specialist," and is highly regarded for his expertise in international tax planning.

Lyubomir Tabakov is "very good at dealing with all tax issues," say market observers. Interviewees particularly highlight Tabakov for his expertise in double tax treaties.

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)

Basic facts about the department
- 2 partners
- 3 other qualified lawyers

What the team is known for Provides notable strength in Bulgarian and cross-border transactional tax matters, with particular knowledge of double taxation treaties. Also represents clients in tax litigation and administrative cases before the national tax and customs authorities.

Strengths Market observers consider the team to be "very competitive in terms of quality of service."

Sources suggest that "the key strength of the firm is the lawyers working there. They are all very carefully selected and all are top lawyers in their areas."

Work highlights Represented Ideal Standard-Vidima in a dispute regarding a EUR22 million tax claim, successfully reducing the claim to EUR0.5 million. The team also disputed this remaining amount, and led the appeal of a new tax audit into the company.

Advised the owners of BluejImp in connection with the tax-efficient sale of their stock in the company to an American investor.

Significant clients European Investment Fund, Pharmaplast, AG Capital, bauMax, BlueJimp.

Notable practitioners

Yordan Naydenov heads the firm's M&A group and is its leading light for tax matters. Naydenov recently advised Eurobank Bulgaria on all tax aspects associated with its acquisition of Alpha Bank's business in Bulgaria.

Radoslav Alexandrov is a respected litigator who is recognised for his handling of high value tax disputes. Sources say that Alexandrov is "very flexible, business-oriented and timely."

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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Djingov, Gouginski, Kyutchukov & Velichkov - Tax Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- 1 partner
- 4 other qualified lawyers

What the team is known for Particular strength in advising on the tax aspects of M&A, regularly representing Bulgarian and international clients in the tax structuring implications of cross-border corporate and financial transactions. Also advises on all tax-related aspects of business operations, including tax structuring, VAT and tax litigation, as well as individual taxation.

Strengths Sources say: "They combine perfectly three things: big knowledge of the technicalities of Bulgarian law, a down-to-earth approach and a great level of fees."

Value for money A source reveals that the firm's fees are "probably the best I've found in the East."

Work highlights Represented Thracian Cliffs Golf & Spa Resort in a major tax litigation case against the Bulgarian National Revenue Agency.

Assessed the tax implications associated with electrically supplied services to Bulgarian customers of Etsy, as well as assisted with a voluntary disclosure procedure.

Significant clients AbbVie, Comverse, Cargill, A.T. Kearny, Abbott Laboratories.

Notable practitioners

Viara Todorova is a "brilliant specialist in the avoidance of double taxation," though her expertise spans all direct and indirect taxation. Clients value that Todorova "combines perfectly a high profile of technical advice with a deep knowledge of our corporation."

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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Georgiev, Todorov & Co - Tax Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- 1 partner
- 2 other qualified lawyers

What the team is known for An impressive firm in the tax litigation space, acting on an extensive range of cases concerning tax liabilities. They also advise on the full range of corporate and personal tax issues, with particular activity in VAT issues.

Strengths A number of interviewees pick out the firm's strength in tax litigation, with one source naming it "the best in dispute resolution."

Work highlights Successfully appealed the Tax Administration's refusal to refund approximately EUR13 million of withheld tax to Atomstroyexport on the basis of a Double Tax Treaty with Russia.

Advised Chaos Software on a wide range of tax matters, a number of which have been cross-border in nature.

Notable practitioners

Georgi Kostolov is deemed "a very good specialist" in taxation matters. He is known for his extremely impressive success rate in cases against the tax authorities, representing both Bulgarian and multinational clients.

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)

Basic facts about the department
- 2 partners
- 3 other qualified lawyers

What the team is known for Offers considerable experience of the tax aspects of corporate restructurings and M&A, as well as complex tax litigation, notably concerning VAT issues. Particular experience with clients seeking to develop large-scale infrastructure and energy projects.

Strengths Clients are confident in the firm's services: "They have strong expertise across all issues we face, a proactive approach and they provide great support and value to our operations."

One client reports: "I would put the Wolf Theiss team on top of the list of all the legal advisors I have ever worked with. They deliver positive results and their way of organising and providing legal support seems to surpass the competition."

Work highlights Assessed the tax implications of a reverse account structure which HSBC Bank intended to implement in multiple jurisdictions. Wolf Theiss advised on matters such as withholding tax and VAT rules in the relevant jurisdictions, as well as the international tax issue of the OECD's Base Erosion and Profit Shifting principles.

Assisted CriticalMix with setting up its operations in Bulgaria by advising on the implementation of a tax-efficient corporate structure.

Significant clients Beazley Furlonge, Springer Nature, WorldQuant, Citibank, ECommera Holdings.

Notable practitioners

Sources say that Atanas Mihaylov is "very knowledgeable on complex tax issues, particularly tax structuring, international tax advice and tax optimising." Clients appreciate that Mihaylov is "pragmatic and commercially-oriented in his analysis."

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)

Basic facts about the department
- 1 partner
- 3 other qualified lawyers

What the team is known for Notable expertise in tax issues relating to domestic and cross-border projects and transactions. Also advises clients on all other areas of tax law, including tax audits, accounting issues and day-to-day matters.

Strengths According to clients, CMS is "very strong in its field of knowledge and provides very structured work."

One source regards CMS as "the best international legal adviser in Bulgaria in energy matters and taxes related to energy matters."

Work highlights Advised EDF on the divesture of its interests in a number of power plants in Bulgaria. The team's advice covered the full spectrum of tax-related issues, including VAT, direct taxation and the application of tax treaties.

Provided ongoing support to Global Biomet, including the optimisation of its corporate activities on the local and EU markets from a tax perspective. CMS has also undertaken tax due diligence on a group of retail sector companies targeted for acquisition.

Significant clients Cargill, CORIT Advisory, Edenred, EU Sunday, Riverside.

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)

Basic facts about the department
- 2 partners
- 3 other qualified lawyers

What the team is known for Covers all aspects of tax law, with experience of tax litigation, planning, transfer pricing and VAT issues, among other matters. Works with a broad Bulgarian and international clientele.

Strengths Clients are impressed by the firm's "quality of services, quick response and understanding of very specific legal and tax issues."

Work highlights Successfully acted for Legia on appealing two cases concerning the assessment of corporate taxes by the Bulgarian authorities. The Supreme Court repealed the assessment acts after finding that they were not compliant with EU state aid legislation.

Advised OMV Bulgaria on its day-to-day operational activities, including assisting with tax and excise checks and audits and excise refund proceedings.

Significant clients Europipe, Lukoil Neftochim Bourgas, HBO Bulgaria, Yazaki Systems Technologies, Sika Bulgaria.

Notable practitioners

Veselina Petkova is the primary contact 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)

Basic facts about the department
- 4 partners
- 6 other qualified lawyers

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.

Strengths Clients appreciate that the team is "proactive, responsive, visionary, open-minded and very hard working."

Work highlights Represented Energoremont Kresna in a complex tax deduction case against the Supreme Administrative Court. The firm appealed to the European Court of Human Rights on the grounds that the Supreme Administrative Court had violated the client's right to property.

Advised Trakya Glass Bulgaria on the tax aspects of a complex restructuring plan, as well as the tax implications post-restructuring.

Significant clients Zepter - Bulgaria, Sisecam Automotive Bulgaria, Ajay Devgn FFilms, Neohealth, Titan Gate.

Notable practitioners

Boyana Milcheva heads the department and is a key contact.

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)

Basic facts about the department
- 1 partner
- 2 other qualified lawyers

What the team is known for Frequently active on tax planning for corporate clients, advising on matters such as major transactions and group restructurings. Experienced in international tax planning and the enforcement of double taxation agreements. Also represents clients before the administrative courts and the National Revenue Agency.

Strengths One client reports: "We have always found the law firm to be highly responsive, with great availability, and the work is always great quality."

Clients hold the team in high regard, noting: "Working with them gives us security and confidence."

Value for money Sources reveal that "the correlation between the price and service is excellent."

Work highlights Assisted ThyssenKrupp Materials Bulgaria with all tax aspects relating to a corporate mark license agreement.

Advised GlobeCap Investment on the taxation status of one of the company's managers.

Significant clients Sofia Municipality, Bulgarian Green Building Council, ZALIVA 47, Eko Spark.

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

Todor Tabakov is a leading figure in the Bulgarian tax market, with one interviewee noting that "the groundbreaking decisions in taxation are his." He continues to be considered a "very good specialist," and is highly regarded for his expertise in international tax planning.

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Band 1

Kambourov & Partners

From the Chambers Europe guide

Todor Todorov is an "incredible performer" who assists with all local and international tax matters. One client regards Todorov as "the top for tax law, the best at navigating respective public administrations and at managing complex cases before the courts."

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Band 1

Djingov, Gouginski, Kyutchukov & Velichkov

From the Chambers Europe guide

Viara Todorova is a "brilliant specialist in the avoidance of double taxation," though her expertise spans all direct and indirect taxation. Clients value that Todorova "combines perfectly a high profile of technical advice with a deep knowledge of our corporation."

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Band 2

Wolf Theiss

From the Chambers Europe guide

Sources say that Atanas Mihaylov is "very knowledgeable on complex tax issues, particularly tax structuring, international tax advice and tax optimising." Clients appreciate that Mihaylov is "pragmatic and commercially-oriented in his analysis."

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Band 3

Georgiev, Todorov & Co

From the Chambers Europe guide

Georgi Kostolov is deemed "a very good specialist" in taxation matters. He is known for his extremely impressive success rate in cases against the tax authorities, representing both Bulgarian and multinational clients.

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Band 3

Boyanov & Co.

From the Chambers Europe guide

Yordan Naydenov heads the firm's M&A group and is its leading light for tax matters. Naydenov recently advised Eurobank Bulgaria on all tax aspects associated with its acquisition of Alpha Bank's business in Bulgaria.

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Band 3

Savov & Partners

From the Chambers Europe guide

Valentin Savov of Savov & Partners combines his broad, business-focused tax expertise with "the passion he puts into each project, as well as his very practical approach, flexibility and readiness to co-invest in a project." Savov specialises in VAT, tax treaties, transactions and reorganisations and tax litigation.

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Band 3

Tabakov, Tabakova & Partners

From the Chambers Europe guide

Lyubomir Tabakov is "very good at dealing with all tax issues," say market observers. Interviewees particularly highlight Tabakov for his expertise in double tax treaties.

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Associates to watch

Radoslav Alexandrov

Boyanov & Co.

From the Chambers Europe guide

Radoslav Alexandrov is a respected litigator who is recognised for his handling of high value tax disputes. Sources say that Alexandrov is "very flexible, business-oriented and timely."

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Associates to watch

Kambourov & Partners

From the Chambers Europe guide

Zahari Naumov is "solution-oriented, responsive and quick" in his comprehensive tax advice. Sources also say that he is "very active - he's not missing anything, he's quick in thoughts and actions in a courtroom."

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