https://muchakova.com/en/blog.html Articles on tax, investing, crypto and VAT by Marina Muchakova, tax consultant. en Tue, 27 Oct 2026 12:00:00 GMT https://muchakova.com/en/blog/nap-proverka-mestno-lice-chuzhdi-smetki-kripto.html https://muchakova.com/en/blog/nap-proverka-mestno-lice-chuzhdi-smetki-kripto.html Tue, 27 Oct 2026 12:00:00 GMT Taxes A real NRA request taken apart (personal data removed): inspection or tax audit, deadlines, whether to sign the bank secrecy waiver, how to appeal, and what the NRA actually knows about your Revolut, Wise, broker and crypto exchange accounts as of October 2026. https://muchakova.com/en/blog/tax-loss-harvesting-po-balgarski.html https://muchakova.com/en/blog/tax-loss-harvesting-po-balgarski.html Thu, 08 Oct 2026 12:00:00 GMT Investing How to realise losses before 31 December lawfully: why a loss on an EU regulated segment is useless for tax (Art. 33(3) PITA), wash sale rules in the US, Ireland and the UK, seasonality, and where the line with market manipulation under MAR runs. https://muchakova.com/en/blog/lichen-ili-firmen-akaunt-broker.html https://muchakova.com/en/blog/lichen-ili-firmen-akaunt-broker.html Thu, 08 Oct 2026 12:00:00 GMT Investing PITA versus CITA, letter by letter: listing is not execution, a “regulated exchange” is not a regulated market (XETA vs XETB), loss carry-forward, US markets, actual expenses, the 5% dividend tax and US estate tax. Plus a prompt that stops AI from just saying “It depends”. https://muchakova.com/en/blog/spb-8-bnb-interactive-brokers.html https://muchakova.com/en/blog/spb-8-bnb-interactive-brokers.html Mon, 05 Oct 2026 12:00:00 GMT BNB reporting The BNB wants statistics, not tax. When SPB-8 is due (the €25,000 threshold at 31 December, Art. 10(2) of the Currency Act), why securities go in by ISIN and quantity rather than in euro, and what companies file: SPB-10, SPB-10A, SPB-2. https://muchakova.com/en/blog/siddo-dvoyno-mestno-lice.html https://muchakova.com/en/blog/siddo-dvoyno-mestno-lice.html Fri, 02 Oct 2026 12:00:00 GMT Tax treaties When several countries treat you as resident at once: Art. 4 PITA, the DTT tie-breaker rules, tax credit vs. exemption, the €255,645.94 TSSPC threshold — and a case involving the UK, Germany, Cyprus, Barbados and a ship under the Panamanian flag. https://muchakova.com/en/blog/parviyat-balgarski-white-paper-esma.html https://muchakova.com/en/blog/parviyat-balgarski-white-paper-esma.html Thu, 01 Oct 2026 12:00:00 GMT Crypto NativeArc’s NX0 token is the first fully Bulgarian White Paper entered in ESMA’s register. What the project is, why a Title II MiCA notification is not a licence, and what the register entry does — and does not — prove. https://muchakova.com/en/blog/kripto-borsi-cex-dex-oborot-zdds.html https://muchakova.com/en/blog/kripto-borsi-cex-dex-oborot-zdds.html Thu, 01 Oct 2026 12:00:00 GMT VAT Instant Sell and Convert, order book or Uniswap — which crypto sales count towards the €51,130 VAT registration threshold and which “go to the exchange”. Place of supply under Art. 21 of the VAT Act, the presumptions in Art. 18 of Regulation 282/2011, and the split of services under MiCA. https://muchakova.com/en/blog/nap-pismo-dohodi-investicii.html https://muchakova.com/en/blog/nap-pismo-dohodi-investicii.html Fri, 18 Sep 2026 12:00:00 GMT Taxes Short and to the point — how to find an accountant, how to handle it yourself, what documents you need, and exactly where each type of income (shares, government securities, crypto, interest, dividends) is declared for tax year 2025. https://muchakova.com/en/blog/dds-turisticheska-usluga-9-ili-20.html https://muchakova.com/en/blog/dds-turisticheska-usluga-9-ili-20.html Mon, 31 Aug 2026 12:00:00 GMT VAT A one-day tour sold through platforms like GetYourGuide, Viator or Airbnb Experiences — which VAT rate applies, when there's a “general tourist service” under Art. 136, and what the tax is charged on. Why the 9% reduced rate no longer exists. https://muchakova.com/en/blog/esma-non-compliant-mexc.html https://muchakova.com/en/blog/esma-non-compliant-mexc.html Thu, 06 Aug 2026 12:00:00 GMT Crypto MEXC is listed in ESMA's register of non-compliant entities under MiCA. How it differs from a revoked license, why the transition period has expired, and what actually happens to your assets if you move them through a private address. https://muchakova.com/en/blog/dds-registraciya-interactive-brokers.html https://muchakova.com/en/blog/dds-registraciya-interactive-brokers.html Wed, 05 Aug 2026 12:00:00 GMT VAT When turnover from financial instruments through a foreign broker does NOT count toward Art. 96 VAT registration — place of supply, Art. 21(2), and a sample response to the NRA with a real refusal act. https://muchakova.com/en/blog/kak-se-oblagat-etf-ite-v-balgaria.html https://muchakova.com/en/blog/kak-se-oblagat-etf-ite-v-balgaria.html Tue, 21 Jul 2026 12:00:00 GMT Taxes ETF, ETN or ETC — the legal form decides everything. Plus accumulating vs. distributing funds, investing through a company, Irish UCITS funds, inheritance, and a VAT masterclass. https://muchakova.com/en/blog/5-danachni-greshki-investitori-chast-2.html https://muchakova.com/en/blog/5-danachni-greshki-investitori-chast-2.html Fri, 17 Jul 2026 12:00:00 GMT Taxes The expanded, edited version: regulated market vs. qualifying growth market, ETF/ETC/ETN/ADR/GDR, tax-loss harvesting and MAR, the VAT risk, and when an investor already looks like a trader. https://muchakova.com/en/blog/5-danachni-greshki-investitori.html https://muchakova.com/en/blog/5-danachni-greshki-investitori.html Wed, 15 Jul 2026 12:00:00 GMT Taxes Regulated market vs. European market, ETF vs. ETC/ETP, Tax Loss Harvesting, the December law changes and the hidden risk of VAT registration — 5 traps that wipe out your returns. https://muchakova.com/en/blog/smart-kontrakti-defi-biznes.html https://muchakova.com/en/blog/smart-kontrakti-defi-biznes.html Fri, 10 Jul 2026 12:00:00 GMT DeFi Why code is not law, which technical movements in DeFi are taxable events under Bulgarian tax law, what MiCA changes, and what steps every business leader should take. https://muchakova.com/en/blog/aml-pragove-stepeni-due-diligence.html https://muchakova.com/en/blog/aml-pragove-stepeni-due-diligence.html Fri, 10 Jul 2026 12:00:00 GMT AML The statutory thresholds of EUR 1,000, 10,000 and 15,000, the three levels of due diligence (SDD, CDD, EDD), and why there is no "magic number" below which you are invisible to AML checks. https://muchakova.com/en/blog/kak-da-preminem-aml-proverka-kripto.html https://muchakova.com/en/blog/kak-da-preminem-aml-proverka-kripto.html Fri, 10 Jul 2026 12:00:00 GMT AML How AML analysts think, the difference between source of funds and source of wealth, and how to prepare your file so the check goes quickly and smoothly. https://muchakova.com/en/blog/danachen-narachnik-za-investitori.html https://muchakova.com/en/blog/danachen-narachnik-za-investitori.html Wed, 08 Jul 2026 12:00:00 GMT Taxes Crypto, stocks, ETFs, dividends, gold and real estate — when tax is due, how much, and where to declare it. A quick reference for the individual investor. https://muchakova.com/en/blog/moite-5-stotinki-za-proektobyudzhet-2026.html https://muchakova.com/en/blog/moite-5-stotinki-za-proektobyudzhet-2026.html Wed, 08 Jul 2026 12:00:00 GMT Economy The real deficit is not fiscal — it is a deficit of reforms. On the administrative burden, the hidden tax on entrepreneurship, and the cost of lost time. https://muchakova.com/en/blog/metamask-cl-card-mica-moonpay.html https://muchakova.com/en/blog/metamask-cl-card-mica-moonpay.html Wed, 08 Jul 2026 12:00:00 GMT MiCA From 1 July 2026 the card's crypto services are powered by MoonPay Europe — a MiCA-licensed CASP. What this means for users and what the authorities will know. https://muchakova.com/en/blog/razlika-borsov-segment-over-the-counter.html https://muchakova.com/en/blog/razlika-borsov-segment-over-the-counter.html Thu, 11 Jun 2026 12:00:00 GMT Investing What OTC means, how it differs from exchange trading, and why fractional shares require a closer reading of the trade confirmation. https://muchakova.com/en/blog/koga-sdelkite-s-cenni-knizha-sa-ikonomicheska-deynost.html https://muchakova.com/en/blog/koga-sdelkite-s-cenni-knizha-sa-ikonomicheska-deynost.html Fri, 29 May 2026 12:00:00 GMT VAT An analysis of CJEU case law on securities transactions as an economic activity and its application in Bulgaria. https://muchakova.com/en/blog/kakvo-ne-pishe-v-white-paperite.html https://muchakova.com/en/blog/kakvo-ne-pishe-v-white-paperite.html Thu, 28 May 2026 12:00:00 GMT Cryptoeconomics Why Bitcoin, Ethereum, DeFi, Layer 2, and bridges are new infrastructure for old economic laws. https://muchakova.com/en/blog/zatrudnenia-casp-mica-licenz-kfn.html https://muchakova.com/en/blog/zatrudnenia-casp-mica-licenz-kfn.html Thu, 28 May 2026 12:00:00 GMT MiCA A practical overview of the common stumbling blocks Bulgarian CASP companies face when applying for a MiCA licence. https://muchakova.com/en/blog/substancia-kompania-zashto-vazhno.html https://muchakova.com/en/blog/substancia-kompania-zashto-vazhno.html Wed, 04 Mar 2026 12:00:00 GMT Tax law Substance means a company's real economic presence in a given country. In practice, it answers whether the company genuinely operates there or is only registered on paper. https://muchakova.com/en/blog/dds-promeni-2026.html https://muchakova.com/en/blog/dds-promeni-2026.html Wed, 04 Mar 2026 12:00:00 GMT VAT As of January 1, 2026, several major VAT changes are now in effect, with the strongest impact on online businesses, digital services, and cross-border sales within the EU. https://muchakova.com/en/blog/natrupvane-oborot-registraciya-dds-2026.html https://muchakova.com/en/blog/natrupvane-oborot-registraciya-dds-2026.html Wed, 04 Mar 2026 12:00:00 GMT VAT As of January 1, 2026, the VAT registration threshold in Bulgaria remains EUR 51,130, but turnover monitoring shifts to a calendar-year basis. https://muchakova.com/en/blog/obobshtenie-promeni-zdds-2026.html https://muchakova.com/en/blog/obobshtenie-promeni-zdds-2026.html Wed, 04 Mar 2026 12:00:00 GMT VAT As of January 1, 2026, substantial amendments to the Bulgarian VAT Act enter into force, transposing Directive (EU) 2020/285 on the special scheme for small enterprises. https://muchakova.com/en/blog/razmer-ima-znachenie.html https://muchakova.com/en/blog/razmer-ima-znachenie.html Sat, 28 Feb 2026 12:00:00 GMT Business If someone tells you otherwise, they're probably lying. Or financially illiterate. https://muchakova.com/en/blog/dck-obligacii-danaci.html https://muchakova.com/en/blog/dck-obligacii-danaci.html Sat, 14 Feb 2026 12:00:00 GMT Taxes Government securities are financial instruments issued by a country's government to finance its operations or projects.