Practice

We represent a client in a procedure for implementation of Convention for avoiding double taxation with regard to an income from disposal of securities outside the regulated market at an amount of 15 000 000 euro

As a part of the assigned legal advice and representation of a foreign company with regard to the transfer of securities (shares, representing 17.6% from the capital of a Bulgarian stock company – a leading producer of fertilizer and chemical products) our team consulted the client on the taxation of the income from the sale of shares on the Bulgarian public company outside the regulated market, as well as on the taxation of income from dividends of Bulgarian residents distributed by the foreign company. In this connection, we analyzed the provisions under The Corporate Income Tax and The Convention for Avoiding the Double Taxation between Bulgaria and Lebanon. We prepared and filed the application for implementation of The Convention for Avoiding Double Taxation and at this moment we represent our client in the procedure for attestation of the grounds for applying the Convention before the Bulgarian Tax Administration.

Practice: Tax Law

Connection with other practices: Banking and Finance, Administrative Procedures and Regulations

Client support in a procedure for rescheduling of public duties

Kinkin and Partners consulted a client with regards to rescheduling his public duties under The Local Taxes and Fees Act for real estate tax and fees for waste because of temporary financial difficulties of the company. In this connection, we analyzed the conditions for rescheduling of the public duties and the documents needed to prove their existence as a part of the submission of the request for rescheduling of public obligations under The Tax and Social Insurance Procedure Code and The Local taxes and Fees Act. We prepared the request and successfully supported the client in the whole process, as a result of which the obligations to the municipality were rescheduled.

Practice: Tax Law

Connection with other practices: Administrative Procedures and Regulations

We provided consultation concerning the taxation specifics for real estate that falls within the flood zones of small hydro power plants based on The Local Taxes and Fees Act

We provided our long-standing client with a legal statement under The Local Taxes and Fees Act concerning the taxation of real estate that falls within flood areas of small hydro power plants as well as with the opportunities for reduction of the tax and waste fee of the properties. In this connection, we provided full analysis on the status of the real estate with regards to The Local Taxes and Fees Act, including the objects of taxation, the obligation for the properties to be declared and for payment of local taxes and fees, the determination of the tax base and the possible sanctions if the obligations for declaring the properties and payment of the local taxes and fees are not fulfilled.

Practice: Tax Law

We represented our client in an appeal of a tax assessment bill concerning rejected tax credit at barter

Kinkin and Partners represented a client before the Supreme Administrative Court in an appeal of a tax assessment bill concerning rejected tax credit under the VAT Act, due to the tax authorities not recognizing the client’s delivery . We have consulted our client with regard to taxation in terms of VAT on delivery of building permission for building service and the base for taxation with VAT for the delivery of building services. In this connection, we provided a detailed consultation concerning the barter terms of tax legislation and the recent practice of the Court of Justice at the European Union. We prepared an analysis of the practice of the Court of Justice at the European Union on these issues and its implementation in Bulgarian courts.

Practice: Tax Law

Connection with other practices: Ligitation

Consultation with regard to VAT on provision of professional services related to the sale and purchase of shares

Kinkin and Partners consulted a client with regard to a rejected by the authorities tax credit for provision of professional services related to the sale and purchase of shares. We supported our client with the submission of an objection against the tax assessment bill with proposal for denial of the tax credit for the company. We analyzed the relation between the provision of services and the economic activity of the tax liable company, as well as the rules for determining partial tax credit under Bulgarian VAT Act and Directive 2006/112/EC.

Practice: Tax Law

Connection with other practices: Administrative Procedures and Regulations

We consulted our client on the implementation of the Convention for Avoiding the Double Taxation between Bulgaria and Denmark

We consulted a client with regard to the possibility of becoming a resident for tax purposes in accordance with the Convention for Avoiding Double Taxation between Bulgaria and Denmark and the Bulgarian Personal Income Tax Law. We analyzed the taxation of dividends distributed to individuals and companies within the EU. We supported our client in structuring the transaction in terms of tax optimization and tax planning.

Practice: Tax Law

We researched the specifics for determining the tax base for real estate tax and waste fees and represented a client in appealing a tax assessment bill

Kinkin and Partners represented a client in the administrative and judicial phase of appealing the tax assessment bills which determined the obligation for property tax and waste fees for the company’s real estate. The dispute with the revenue administration was on whether according to the applicable accounting standards, the company had obligation to update property values for the purpose of determining the tax base. In this connection, we analyzed the proper accounting legislation and practice concerning the evaluation of fixed assets and consulted our client on the base for determining estate tax and waste fee for non-residential real estate property of a company.

Practice: Tax Law

Connection with other practices: Administrative Procedures and Regulations, Litigation

We consulted our client with regard to declaring and taxation of an income from dividends

We consulted our client with regard to the taxation of income from dividends. Our team examined the obligations for declaring the income, withholding tax, as well as the application of the Convention for Avoiding Double Taxation related to these incomes.

Practice: Tax Law

Our team supported a client with the implementation of the rules for acquisition of machinery and equipment within the European Union

We provided consultation related to the implementation of the rules for acquisition of machinery and equipment within the European Union.

Practice: Tax Law

We consulted our client with regards to the tax effects of transferring real estate in Bulgaria

We provided consultations related to the opportunities and tax effects of transferring real estate in Bulgaria .In this connection we analyzed the opportunities for VAT refunds and the implementation of Convention for Avoiding Double Taxation with Norway.

Practice: Tax Law

We conducted a full legal analysis for a client in terms of the Bulgarian tax legislation concerning the tax treatment of interest payments and the possibilities for tax optimization

We conducted a full analysis and consultation related to payable in Bulgaria withholding tax on interest payments. We analyzed the relevant provisions of the Corporate Income Tax Act with regard to the taxation of interest income of foreign entities from a source in Bulgaria, including the case of realization of income through a business situated in the country. Our consultation included analysis of the taxation of interest income according to the Convention for Avoiding Double Taxation with the Netherlands, with Cyprus and with Hungary, and also according to the Directive 2003/48/ЕО 3 from June 2003 on taxation of income from savings under the form of interest rates, effective in Bulgaria after 31 December 2014. We consulted our client on the opportunities for tax optimization and the VAT aspects of the scheduled transactions.

Practice: Tax Law

The Law Firm team consulted with regard to VAT of intermediary services

We provided a legal statement concerning VAT of remuneration received by an EU company for intermediary services in connection with purchase of shares from Bulgarian companies.

Practice: Tax Law

We provided tax consultations on tax planning and the Convention for the Avoidance of Double Taxation

We provided consultation on international tax planning and implementation of the Convention for the Avoidance of Double Taxation with regard to a technical consultation for a small hydroelectric plant in Bulgaria. Our consultations were related to the financing of a major investment project in Bulgaria.

Practice: Tax Law

Complete tax and legal services in connection with the financing of an investment project

We provided complete legal services to a long-standing client in connection with the financing of a major investment project of the company. Related to this, we provided a wide range of tax consultancy projects in the field of income taxes and indirect taxes.

Practice: Tax Law

We represented a long-standing client in appealing a tax assessment bill with which a joint liability of a taxable person for VAT obligations of its provider was implemented

Kinkin and Partners represented its long-standing client in appealing an act of auditing with which the tax authorities implemented joint liability for VAT obligations of our client and his contractor in the sale of a commercial and business center. Joint liability for VAT obligation is a specific topic in Bulgarian law where, under certain conditions, the recipient of the delivery may be responsible for the appropriate and unpaid VAT of his contractor. We analyzed the corresponding decrees from the perspective of EU law and the practice of the European Court of Justice in Luxemburg. We advised our client on the possibilities of filing an appeal before the European Court of Human Rights in Strasburg. Currently the complaint is filed in the European Court of Human Right and we are waiting for its decision.

Practice: Tax Law

Connection with other practices: Administrative Procedures and Regulations, Litigation

We advised our long-standing client in an amendment of the declared value of a non-residential property

We provided our client with legal statement under the Local Taxes and Fees Law concerning the incorrectly declared value of a non-residential property - a building of water power plant. The values of the accomplished injection works had been overestimated as they do not refer to activities concerning the construction of the water power plant and do not form its value. In this regard, we supported our client in the submission of a corrective declaration for the property with which its value was reduced and thus was the basis for determining the amount of local fees and taxes was reduced as well. We also provided our client with legal assistance during the process of inspection.

Practice: Tax Law

Connection with other practices: Administrative Procedures and Regulations

Consultation on international tax planning, implementation of the Convention for Avoiding Double Taxation and VAT assistance concerning a real estate project

Kinkin & Partners provided legal advice concerning taxation in Bulgaria in the case of purchase of real estate in Bulgaria that has previously been acquired by a foreign citizen, including a purchase through a Bulgarian or a foreign company. Our consultation covered taxes on profit and income, as well as tax consequences under the VAT Act.

Practice: Tax Law

Taxation of a trade representative of a foreign company in Bulgaria

We provided legal advice on the taxation of a trade representative of a Swiss company. Our team performed an analysis of the tax liabilities that occur in the case of carrying out a business activity of a foreign company with representation in Bulgaria. In this connection, we reviewed the tax consequences under The Convention for Avoiding Double Taxation between Bulgaria and Switzerland, under the Corporate Income Tax Act and the Value Added Tax act with regard to the activity of the commercial representation, as well as the taxation under the Personal Income Tax Act on the income that the manager of the commercial representation obtained on the basis of the employment contract and his civil contract.

Practice: Tax Law

We represented our client in an appeal of a tax assessment act with regard to not approved tax credit due to a claimed by the tax authorities lack of existing supply

We represented our client in the case of appealing a tax assessment act under VAT law wherewith the tax authorities had refused to grant the tax refund to the company. The argument in the case against the tax administration was the existence of supplied services and respectively, the presence of a taxable event under art. 25 from VAT Act. We also analyzed the possibility of filing an appeal under the European Court of Human Rights in Strasbourg.

Practice: Tax Law

Connection with other practices: Litigation

We consulted our long-standing client on wide range tax issues, including tax planning

We provided consultations to our long-standing client on various tax issues related to the execution of local tax legislation in the income tax field, indirect tax, local tax and withholding tax on interest on loans to the company. We also advised our client on tax planning, with the view of the completion and financing of a large investment project. These consultations were part of a complete legal service to our client with regard to financing of the project for acquisition und commission of a commercial und business center worth 16 million Euros. Our team was engaged in making a detailed legal analysis of the company that owned the project for the construction of the commercial and business center.

Practice: Tax Law

Connection with other practices: Real Estate. Urban Planning and Construction Works, Banking and finance, Corporate and Commercial Law. Liquidation and Insolvency. Business Transactions

Tax consultation related to real estate

We provided a client with consultation with regard to tax consequences, including VAT, connected to the restructuring of a company. We consulted our client also on the on options for cancelling a real estate project from a tax point of view.

Practice: Tax Law