Regulatory Alerts2012-12-18
Ordinance No. 28 on Information and Documents for Third-Party Cross-Border Transfers
Issued by the Ministry of Finance and the Bulgarian National Bank, this Ordinance mandates that persons executing third-party cross-border transfers or payments of BGN 30,000 or more must submit specific supporting documents to payment service providers. It establishes a detailed list of required certifications for various transaction types, including imports, services, labor remuneration, and property acquisition, while allowing for alternative documentation or declarations when standard proofs are unavailable. The regulation further requires the inclusion of tax deduction details for taxable incomes and specifies that foreign language documents must be translated into Bulgarian upon request.
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