The amendments transpose the EU NFR directive without extending its scope. Small paragraph explains the NFI that needs to be disclosed.
Ministry of Finance
Government ministryFinance/Treasury
More informationIt entered into force on January 1st 2016, except for the articles 48-52 which refers to non-financial declaration. Those provisions will enter into force on January 2017. The accounting act was adopted to bring Bulgarian accounting legislation into line with EU Directive 2013/34 and to a small extent 2014/95/EU. The parliament commission decided this approach was most effective to address all requirements of the directive, and to reduce the administrative burden for companies.
Comply or explainTrue
Organizations covered by the instrumentLarge private and listed companies
Target organization notes1, traders within the meaning of the Commercial Law; 2. local legal entities that are not traders; 3. budgetary enterprises; 4. non-personified companies; 5. the insurance funds under art. 8 of the Social Security Code; 6. sales offices; 7. foreign legal entities engaged in economic activity in the Republic of Bulgaria through a place of business, except in cases where the economic activity is carried out by a foreign person from a Member State of the European Union or from another country party to the Agreement on the European economic space only under the conditions of freedom to provide services.
Industry scopeFinancial Services
ESG coverage - E (Environment)All
ESG coverage- S (Social)Human Rights, Employment Conditions, Policies and Practices
ESG coverage- G (Governance)Accountability, Anti-Corruption and Anti-Competitive Behaviour
ESG coverage- Eco (Economic & General)All
Current
CountryBulgaria
RegionEurope
Date of publication2016
Issuer typeGovernments (governmental department, agency)
Reporting requirementsPublic law and regulation
Mandatory or voluntaryMandatory
The geographical scopeNational/federal