The Commercial Directorate of Atlantis Bulgaria: already a member of the international organization FIABCI

05/22/21

It is an honor for the Atlantis Estates team to announce the news that the Commercial Directorate of Atlantis Bulgaria is now an official and full member of the international organization FIACBI - business federation, uniting professionals in the field of real estate for over six decades. What is FIABCI, what are its structures and values, and what does the membership of Atlantis Estates in the club mean for us and our clients? We answer all these questions in more detail in the lines below.

Local taxes that are required to be paid and deadlines in which they are due when selling a property by a legal entity

05/10/21

Despite the current challenges that the global economy is facing, real estate deals have been extremely stable and have been even growing in the last few years. Along with the number of individuals (I) who increasingly sell properties, there are many legal entities that carry out the same activities. As owners of taxable real estate, according to the Local Taxes and Fees Act (LTFA), the legal entities also owe taxes when acquiring a property. There are some specifics in the taxation of this type of tax, which we will explain in the following lines.

Unpaid taxes and deadlines which are due when selling a property by a physical person

03/30/21

In the same normative acts are also considered the circumstances in which certain taxes may not be owed or certain tax reliefs may be used. In case you are planning to buy or sell a property, as a physical person (PP), it would be good if you get acquainted in advance with the types of the owed taxes, the legal framework, and their terms for payment. Here we want to draw attention to these important issues concerning the PP, which are about to make a similar deal.