Covid-19 - Summary of Measures

BULGARIA

By May 13, 2020 Bulgaria is in a state of emergency.

The Bulgarian government takes the first steps to support the business and the workers in the COVID19 pandemic and the declared state of emergency within a month. The government will wait for the coming months to propose new measures or a package of them. There will be no tax or interest breaks, no suspension of utility bills. And in June, there will probably be an update to the budget, which was planned to be balanced for the first time in nearly a decade.

In Bulgaria, the state will take part of the salaries of people (60% - per month) working in businesses affected by the coronavirus and threatened with layoffs. The only state-owned bank, the Bulgarian Development Bank (BDB), has announced a line of special liquidity support for businesses suffering from a lack of sufficient funds. The European Investment Bank (EIB) is also expected to announce such lines of credit that Bulgaria will also benefit from.

In addition, the government proposes to extend until June 30 the deadline for annual accounting closure and the submission of annual financial statements and declarations under the Corporate Income Tax Act. The deadline for paying local taxes and fees at a discount, which expires at the end of the month, will also be extended because this deadline "is a prerequisite for many people to come together in one place".

A special logistics center is being set up at the National Operational Headquarters, which will distribute masks, protective clothing, medicines and more. Not only to hospitals, but also to institutions that provide services to citizens and have direct contacts with them such as social services, police, etc. The government will reconsider its long-term investments and projects and many will be stopped.

The Minister of Finance does not accept requests to suspend payment of utility bills for a state of emergency as this will lead to a chain of debt.

Bulgarian airports will not accept planes from Italy and Spain, as well as from Iran and South Korea. In case of need for evacuation of Bulgarians, special flights with Bulgaria Air will be organized, but not at the expense of taxpayers. Every Bulgarian who comes from these countries will be quarantined. For now, passenger trains will not be dismantled, and it will be discussed with carriers and mayors of settlements whether some bus routes need to be reduced.

All procedural time limits in pending court cases (excluding criminal cases) with a possible state of emergency law are suspended. All procedures of private or state bailiffs will also be stopped and only one notary will work in each area.

If you have any questions regarding this or any of the other initiatives offered to those affected by the current disruption, please contact Tatyana Nanovska at tnanovska@ch-bg.com.