Bulgarian Parliament extends euro redenomination deadline and reforms waste laws

The Bulgarian Parliament has passed significant legislative amendments regarding euro adoption and waste management.

Regarding the transition to the euro, the National Assembly extended the deadline for capital redenomination for companies from 12 to 36 months following the currency's introduction, effectively pushing the requirement to the end of 2028. The amendment, proposed by Progressive Bulgaria, also removes the requirement to submit updated articles of association or partnership agreements during the first subsequent filing in the commercial register, aiming to reduce administrative burdens on businesses.

Additionally, the Parliament approved changes to the Waste Management Act at its first reading. The bill proposes transitioning from a licensing to a registration regime for waste management organizations and transferring certain control functions to the National Revenue Agency and Customs Agency. The legislation also includes the removal of product fees for motor vehicles. Proponents of the bill argue these changes aim to increase market competition, reduce corruption risks in the environmental sector, and lower consumer prices for household appliances and electronics.