The Current Regulatory Framework Governing Business in Bulgaria
The paper identifies the key elements of the regulatory environment for business in Bulgaria, to serve as a research guide, while recognizing that the rapid development of new legislative, and regulatory procedures, are greatly needed, largely to m...
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| Format: | Publication |
| Language: | English en_US |
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Washington, DC: World Bank
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2001/07/1614789/current-regulatory-framework-governing-business-bulgaria http://hdl.handle.net/10986/13977 |
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okr-10986-13977 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS ACTIONS ACTS ADMINISTRATIVE PROCEDURE AUDITING AUTHORITY BALANCE SHEET BANK BANKRUPTCY CAPITAL BASE CAPITAL MARKETS CIVIL LAW CIVIL LAW JURISDICTIONS CODES COMMERCIAL LAW COMMON LAW COMMUNIST COMPETITION LAW CONSOLIDATION CONSTITUTION CONSTITUTIONAL AMENDMENTS CONSTITUTIONAL PROVISION CONSUMER PROTECTION CONTRACT LAW COPYRIGHT CORPORATE GOVERNANCE CORPORATE MANAGEMENT COUNCIL OF MINISTERS COURT ADMINISTRATION COURT OFFICIALS COURT PERFORMANCE COURT SYSTEM CRIMINAL LAW CUSTOMS DECREES DEMOCRACY DISCLOSURE DISCRETIONARY POWERS ECOLOGY ECONOMIC ACTIVITY ECONOMIC REFORM ENTREPRENEURSHIP ENVIRONMENTAL PERFORMANCE EQUALITY EQUITY INVESTMENTS EUROPEAN UNION EXCHANGE RATE EXPLOITATION FINANCIAL CRISES FINANCIAL INTEGRATION FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN OWNERSHIP FOREIGN PARTICIPATION FOREIGN TRADE FOREST MANAGEMENT GENDER GOVERNMENT INSTITUTIONS GOVERNMENT PROGRAM HEAD OF STATE INCOME INSOLVENCY INSOLVENCY SYSTEMS INSURANCE INTELLECTUAL PROPERTY INTERNATIONAL ACCOUNTING STANDARDS INVESTMENT CLIMATE INVESTMENT GRANTS JUDGES JUDICIAL REVIEW JUDICIAL SYSTEM JUDICIARY JUSTICE LAWS LEGAL FRAMEWORK LEGAL STATUS LEGAL TRAINING LEGISLATION LEGISLATIVE DEVELOPMENT LEGISLATIVE FRAMEWORK LEGISLATIVE PROCESS LEGISLATURE LIQUIDATION MANAGEMENT INFORMATION SYSTEMS MANDATES MARKET ECONOMIES MEMBER STATES MEMBERS OF PARLIAMENT MINISTRY OF FINANCE MONOPOLIES MPS NATURAL RESOURCES PATENTS PENALTIES PRESIDENTS PRIVATE SECTOR GROWTH PRIVATIZATION PRIVATIZATION PRIVATIZATION AGENCY PROPERTY RIGHTS PUBLIC ADMINISTRATION PUBLIC HEALTH REGULATORY FRAMEWORK REGULATORY INSTRUMENTS REGULATORY REGIME REGULATORY SYSTEM REPRESENTATIVES SECURITIES SECURITIES LAW SOCIAL POLICY SOCIAL PROTECTION SOCIAL SECURITY SOCIALISM STATE - OWNED ENTERPRISES STATE OWNERSHIP SUPREME COURTS SUSTAINABLE GROWTH TAX RATE TAX REGIME TAX REVENUE TAXATION TRANSITION ECONOMIES TRANSPORT UNEMPLOYMENT VIOLATIONS WATER PRICING |
| spellingShingle |
ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS ACTIONS ACTS ADMINISTRATIVE PROCEDURE AUDITING AUTHORITY BALANCE SHEET BANK BANKRUPTCY CAPITAL BASE CAPITAL MARKETS CIVIL LAW CIVIL LAW JURISDICTIONS CODES COMMERCIAL LAW COMMON LAW COMMUNIST COMPETITION LAW CONSOLIDATION CONSTITUTION CONSTITUTIONAL AMENDMENTS CONSTITUTIONAL PROVISION CONSUMER PROTECTION CONTRACT LAW COPYRIGHT CORPORATE GOVERNANCE CORPORATE MANAGEMENT COUNCIL OF MINISTERS COURT ADMINISTRATION COURT OFFICIALS COURT PERFORMANCE COURT SYSTEM CRIMINAL LAW CUSTOMS DECREES DEMOCRACY DISCLOSURE DISCRETIONARY POWERS ECOLOGY ECONOMIC ACTIVITY ECONOMIC REFORM ENTREPRENEURSHIP ENVIRONMENTAL PERFORMANCE EQUALITY EQUITY INVESTMENTS EUROPEAN UNION EXCHANGE RATE EXPLOITATION FINANCIAL CRISES FINANCIAL INTEGRATION FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN OWNERSHIP FOREIGN PARTICIPATION FOREIGN TRADE FOREST MANAGEMENT GENDER GOVERNMENT INSTITUTIONS GOVERNMENT PROGRAM HEAD OF STATE INCOME INSOLVENCY INSOLVENCY SYSTEMS INSURANCE INTELLECTUAL PROPERTY INTERNATIONAL ACCOUNTING STANDARDS INVESTMENT CLIMATE INVESTMENT GRANTS JUDGES JUDICIAL REVIEW JUDICIAL SYSTEM JUDICIARY JUSTICE LAWS LEGAL FRAMEWORK LEGAL STATUS LEGAL TRAINING LEGISLATION LEGISLATIVE DEVELOPMENT LEGISLATIVE FRAMEWORK LEGISLATIVE PROCESS LEGISLATURE LIQUIDATION MANAGEMENT INFORMATION SYSTEMS MANDATES MARKET ECONOMIES MEMBER STATES MEMBERS OF PARLIAMENT MINISTRY OF FINANCE MONOPOLIES MPS NATURAL RESOURCES PATENTS PENALTIES PRESIDENTS PRIVATE SECTOR GROWTH PRIVATIZATION PRIVATIZATION PRIVATIZATION AGENCY PROPERTY RIGHTS PUBLIC ADMINISTRATION PUBLIC HEALTH REGULATORY FRAMEWORK REGULATORY INSTRUMENTS REGULATORY REGIME REGULATORY SYSTEM REPRESENTATIVES SECURITIES SECURITIES LAW SOCIAL POLICY SOCIAL PROTECTION SOCIAL SECURITY SOCIALISM STATE - OWNED ENTERPRISES STATE OWNERSHIP SUPREME COURTS SUSTAINABLE GROWTH TAX RATE TAX REGIME TAX REVENUE TAXATION TRANSITION ECONOMIES TRANSPORT UNEMPLOYMENT VIOLATIONS WATER PRICING O'Brien, Thomas Filipov, Christian The Current Regulatory Framework Governing Business in Bulgaria |
| geographic_facet |
Europe and Central Asia Bulgaria |
| relation |
World Bank Technical Paper;No. 513 |
| description |
The paper identifies the key elements of
the regulatory environment for business in Bulgaria, to
serve as a research guide, while recognizing that the rapid
development of new legislative, and regulatory procedures,
are greatly needed, largely to meet the European
Union's (EU) legal, and regulatory standards. It
describes business creation, with the Commercial Code
providing much of the central, comprehensive regulation.
Also, another route for business creation in the private
sector has been offered through the privatization process of
state-owned assets, and, the use of concessions can also be
viewed as another route to the creation of private business.
However, and although concession legislation sets an overall
framework of reasonable adequacy, reports from practitioners
in the marketplace reveal much remains to be done to forward
this agenda. In regulating corporate operations, the stake
of shareholders in the formation of corporate policy,
reflects shared participation in the corporate capital base;
thus to engender confidence in corporate management
standards, and underpin the broadening of share ownership,
priority actions should take place. Bulgarian competition
law, follows EU doctrine, which penalizes companies for
discriminatory behavior, monitored by the Commission on the
Protection of Competition, with defined discretionary
powers. The study further highlights accounting standards,
investment channels, and the tax regime, suggesting priority
actions for company transformation such as enhanced training
for judges, and court administration procedures to
rationalize the case load. Overall, recommendations include
accurate drafting of primary legislation; quality
improvement of secondary legislation, setting the pace for a
timely implementation, as well as a more effective judicial
system for corporate affairs, and services delivered by the
public administration to businesses. |
| format |
Publications & Research :: Publication |
| author |
O'Brien, Thomas Filipov, Christian |
| author_facet |
O'Brien, Thomas Filipov, Christian |
| author_sort |
O'Brien, Thomas |
| title |
The Current Regulatory Framework Governing Business in Bulgaria |
| title_short |
The Current Regulatory Framework Governing Business in Bulgaria |
| title_full |
The Current Regulatory Framework Governing Business in Bulgaria |
| title_fullStr |
The Current Regulatory Framework Governing Business in Bulgaria |
| title_full_unstemmed |
The Current Regulatory Framework Governing Business in Bulgaria |
| title_sort |
current regulatory framework governing business in bulgaria |
| publisher |
Washington, DC: World Bank |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2001/07/1614789/current-regulatory-framework-governing-business-bulgaria http://hdl.handle.net/10986/13977 |
| _version_ |
1764424956331950080 |
| spelling |
okr-10986-139772021-04-23T14:03:10Z The Current Regulatory Framework Governing Business in Bulgaria O'Brien, Thomas Filipov, Christian ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS ACTIONS ACTS ADMINISTRATIVE PROCEDURE AUDITING AUTHORITY BALANCE SHEET BANK BANKRUPTCY CAPITAL BASE CAPITAL MARKETS CIVIL LAW CIVIL LAW JURISDICTIONS CODES COMMERCIAL LAW COMMON LAW COMMUNIST COMPETITION LAW CONSOLIDATION CONSTITUTION CONSTITUTIONAL AMENDMENTS CONSTITUTIONAL PROVISION CONSUMER PROTECTION CONTRACT LAW COPYRIGHT CORPORATE GOVERNANCE CORPORATE MANAGEMENT COUNCIL OF MINISTERS COURT ADMINISTRATION COURT OFFICIALS COURT PERFORMANCE COURT SYSTEM CRIMINAL LAW CUSTOMS DECREES DEMOCRACY DISCLOSURE DISCRETIONARY POWERS ECOLOGY ECONOMIC ACTIVITY ECONOMIC REFORM ENTREPRENEURSHIP ENVIRONMENTAL PERFORMANCE EQUALITY EQUITY INVESTMENTS EUROPEAN UNION EXCHANGE RATE EXPLOITATION FINANCIAL CRISES FINANCIAL INTEGRATION FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN OWNERSHIP FOREIGN PARTICIPATION FOREIGN TRADE FOREST MANAGEMENT GENDER GOVERNMENT INSTITUTIONS GOVERNMENT PROGRAM HEAD OF STATE INCOME INSOLVENCY INSOLVENCY SYSTEMS INSURANCE INTELLECTUAL PROPERTY INTERNATIONAL ACCOUNTING STANDARDS INVESTMENT CLIMATE INVESTMENT GRANTS JUDGES JUDICIAL REVIEW JUDICIAL SYSTEM JUDICIARY JUSTICE LAWS LEGAL FRAMEWORK LEGAL STATUS LEGAL TRAINING LEGISLATION LEGISLATIVE DEVELOPMENT LEGISLATIVE FRAMEWORK LEGISLATIVE PROCESS LEGISLATURE LIQUIDATION MANAGEMENT INFORMATION SYSTEMS MANDATES MARKET ECONOMIES MEMBER STATES MEMBERS OF PARLIAMENT MINISTRY OF FINANCE MONOPOLIES MPS NATURAL RESOURCES PATENTS PENALTIES PRESIDENTS PRIVATE SECTOR GROWTH PRIVATIZATION PRIVATIZATION PRIVATIZATION AGENCY PROPERTY RIGHTS PUBLIC ADMINISTRATION PUBLIC HEALTH REGULATORY FRAMEWORK REGULATORY INSTRUMENTS REGULATORY REGIME REGULATORY SYSTEM REPRESENTATIVES SECURITIES SECURITIES LAW SOCIAL POLICY SOCIAL PROTECTION SOCIAL SECURITY SOCIALISM STATE - OWNED ENTERPRISES STATE OWNERSHIP SUPREME COURTS SUSTAINABLE GROWTH TAX RATE TAX REGIME TAX REVENUE TAXATION TRANSITION ECONOMIES TRANSPORT UNEMPLOYMENT VIOLATIONS WATER PRICING The paper identifies the key elements of the regulatory environment for business in Bulgaria, to serve as a research guide, while recognizing that the rapid development of new legislative, and regulatory procedures, are greatly needed, largely to meet the European Union's (EU) legal, and regulatory standards. It describes business creation, with the Commercial Code providing much of the central, comprehensive regulation. Also, another route for business creation in the private sector has been offered through the privatization process of state-owned assets, and, the use of concessions can also be viewed as another route to the creation of private business. However, and although concession legislation sets an overall framework of reasonable adequacy, reports from practitioners in the marketplace reveal much remains to be done to forward this agenda. In regulating corporate operations, the stake of shareholders in the formation of corporate policy, reflects shared participation in the corporate capital base; thus to engender confidence in corporate management standards, and underpin the broadening of share ownership, priority actions should take place. Bulgarian competition law, follows EU doctrine, which penalizes companies for discriminatory behavior, monitored by the Commission on the Protection of Competition, with defined discretionary powers. The study further highlights accounting standards, investment channels, and the tax regime, suggesting priority actions for company transformation such as enhanced training for judges, and court administration procedures to rationalize the case load. Overall, recommendations include accurate drafting of primary legislation; quality improvement of secondary legislation, setting the pace for a timely implementation, as well as a more effective judicial system for corporate affairs, and services delivered by the public administration to businesses. 2013-06-17T19:33:23Z 2013-06-17T19:33:23Z 2001-07 http://documents.worldbank.org/curated/en/2001/07/1614789/current-regulatory-framework-governing-business-bulgaria 0-8213-4982-1 http://hdl.handle.net/10986/13977 English en_US World Bank Technical Paper;No. 513 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Publication Publications & Research :: Publication Europe and Central Asia Bulgaria |