Sofia, 01 December, 2005

For contacts:
Mrs Pavlina Kalcheva – President of MB of APAC
ul. Parchevich 26, et.2, 1000 Sofia
tel./fax: 02/9802705
e-mail: office@apac-bg.org
www.apac-bg.org

The General Assembly of the Association of the Professional Accounting Companies /APAC/ elected new members of the Managing Board

The Association of the Professional Accounting Companies /APAC/ held an annual meeting on 30.11.2005 in Sofia. The meeting was attended by members of the association from all over the country, who adopted the report for the last two-years mandate of the Managing Board.

In the discussions about the activity and the future development of APAC the General Assembly evaluated the exchange of information and the cooperation as important indicators for the effective role of the Association. It was declared that the condition for taking out of professional indemnity insurance by the regular members of APAC should be preserved and also that new members should be attracted on the basis of fulfilment of the association`s membership criteria as a guarantee for the good quality of the services, provided by the professional accounting companies. The General Assembly elected new members of the Managing Board /MB/ on the basis of the presented strategy for the activities of APAC for the period 2006-2007: Mrs Pavlina Kalcheva - President, members: Ms Katya Krancheva, Mr Georgi Tsanov, Mr Nikolay Polinchev and Mr Rumen Obreshkov, the latter being dismissed by the operating Control Board of the Association. 

At the meeting of the General Assembly of APAC Mrs Kalcheva declared on behalf of the MB: „We state our readiness to put our efforts for turning this strategy into a real management program with achievable goals. In the process of realisation of the goals we will rely on the support of all the members, who share our ideas and views."

After the closing down of the meeting of the General Assembly, the members of APAC celebrated the second anniversary from the foundation of the association.
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14.06.2005, Sofia

For contacts:
Mr Vladimir Ekimov – President of MB of APAC
ul. Parchevich 26, et.2, 1000 Sofia
tel./fax: 02/9802705
e-mail: office@apac-bg.org
www.apac-bg.org

OPEN LETTER

To the attention of the National executive boards of:
Coalition for Bulgaria
National Movement Simeon II
United Democratic Forces
Movement for Rights and Freedoms
Democrats for Strong Bulgaria
Bulgarian People`s Union

Dear Sirs/Madams,

The Association of the Professional Accounting Companies /APAC/ decided to address you directly due to the obvious lack of constructive dialogue between the state administration structures, which has prepared the projects for new fiscal legislation, and the interested professional and business organizations.

In the end of April 2005 the projects for new fiscal legislation, which change considerably the fiscal framework of the business, prepared in full secret by the General Fiscal Directorate /GFD/ at the Ministry of Finances, were presented to the National Board of Fiscal Policy. The short time we had to react did not stop most of the interested parties from expressing their negative reaction to the prepared changes, but in spite of this the projects were adopted at a meeting of the Council of  Ministers.

We would like to state that:

1. We do not accept the practice where the projects for changes in the fiscal legislation are prepared in full secret, without allowing time for the business to study them and to give its opinion. Such an approach creates distrust in the state institutions.

2. We do not accept the motives with which these changes are justified. The preparation of new fiscal legislation is motivated with the establishment of a National Revenues Agency /NRA/ and with stimulating the taxpayers towards voluntary payment of the due taxes. That this is not true is proven by the statement of Carlos Fereira, Program manager of the World Bank, before the press. He literally says:
“I would like to point out after all that the adoption of new legislation is not a condition connected to our project /NRA/ ... The most important is the Tax-Insurance Code and the Law on excise. The effect of the other three laws is much less."
The new projects not only do not stimulate the taxpayers to pay voluntarily their obligations but create new obligations and cancel the existing preferences. There is an attempt for some texts to be included in the new laws, which would definitely be rejected if corrections to the existing laws were made, with the only purpose of creating comfort for the state administration and additional difficulties for the taxpayers.

3. We do not accept the practice where the loyal taxpayers have to pay for the actions of the disloyal ones. The present Tax Code of Procedure is based entirely on such grounds, and the regulations of the project for a new Tax-Insurance Code of Procedure are even more restrictive. We do not accept explanations of the kind that the tax and insurance administration cannot take timely actions against the people, dealing with fiscal fraud, but the budget has to refund somehow the losses. It will be the same case if the police decide to introduce a night hour because in general there are lots of crimes or to arrest you, because your neighbour is a thief, but he/she is simply not at home. Then logically comes the question why so much money is spent for an administration, which cannot perform its duties.

We propose:

1. All changes in the tax legislation to be subjected to a wide public discussion. Such changes should not be adopted by the tax administration bodies, which are executing the regulations. A working group from the member-organizations in the National Board on Tax Policy to be established, where the representatives of the business and of the professional organizations and those of the administration to have equal quota for participation. This working group to start the preparation of the changes in the tax legislation, using as a basis the current laws, which are more or less neutral towards the business and towards the fisk.

2. A reform within the tax administration to be started with the same degree of importance as the reform in the legal system. We do not consider that the establishment of NRA will solve this problem, if the style and the methods of communication between the administration and the tax payers are not changed. I will paraphrase an old expression and will say that it is not possible a new agency to be established, using the mentality of the old personnel.

3. The next parliament should adopt legislative changes for correction of the Trade Law, which to stop all possibilities for the people practicing tax fraud to escape legally from taking a responsibility for their deeds.

4. An independent body should be established, which to interpret controversial texts from the tax and insurance legislation. The current practice of this being done by ГДД and НОИ obviously contradicts with the Constitution, because the structures in question belong to the executive authority and the interpreting of the legislation is a priority either of the judicial power or of an independent body within the framework of the legislative power.

5. The obligation of placing administrative sanctions/penalties/ should be transferred from the administration to a competent court. A reciprocal sanctioning regime should be introduces where the sanctions, valid for the taxpayers will be valid also for the respective administrative body, which has not observed a given deadline or has issued an act, which was subsequently cancelled. The present regime, where the administrative bodies do not take almost any responsibility for their actions or the procedure in this respect is very complicated, allows for corruption practice possibilities and administrative chaos.

We address you because you are the people, who will be responsible for the legislative framework of the Republic of Bulgaria and for its practical application in the coming four years.

APAC will continue to send its positions on the above mentioned questions and is ready to participate constructively in all discussions, concerning the accounting and tax legislation and practices in the country.

The present position is adopted by the Managing Board of the Association of the Professional Accounting companies on 10.06.2005.

Yours faithfully:
Mr Vladimir Ekimov
President of Managing Board of APAC
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27.04.2005

For contacts:
Mr Vladimir Ekimov – President of MB of APAC
ul. Parchevich 26, et.2, 1000 Sofia
tel./fax: 02/9802705
e-mail: office@apac-bg.org
www.apac-bg.org


Insuring the professional activities of the members of the Association of the Professional Accounting Companies /APAC/

Acceptance of associated members in APAC

27 April, 2005, Sofia. On 26 April, 2005 the Association of the Professional Accounting Companies /APAC/ held its regular annual meeting, where certain decisions for allowing a wider range of accounting companies to be able to become members of the asociation, were adopted. This possibility was granted by means of the changes in the Articles of Association of the Association and the membership criteria, allowing the acceptance of associated members.

In continuation of the realization of the objectives of APAC for development and protection of the interests of its members, The General Assembly approved a "Professional Indemnity" insurance product, which was developed in cooperation with ZPAD Allianz Bulgaria, specially for the members of the Association.

The criteria for membership in the Association were increased with the inclusion of the obligatory condition, concerning regular membership in APAC, for taking out of "Professional Indemnity" insurance. This is regarded as an additional guarantee for the clients of the members of APAC.

The General Assembly adopted an activity program of APAC for 2005, including active cooperation with the state institutions, the sectoral organizations, the institutions of higher education as well as with all other parties, interested in cooperation with the Association and with its members. In the program the Association formulated again very clearly its objectives and ambitions, concerning its recognition at a national level and the establishment of active international cooperation with view of the creation of conditions for stable development of all professional companies in the country.

==========================

28.04.2004

For contacts:
Mr Nikola Popov – Member of MB of APAC
ul. Grigor Parlichev 12, 4004 Plovdiv
tel./fax: 032/675828; 032/675838
e-mail: n.popov@apac-bg.org
www.apac-bg.org

APAC OPENS A REGIONAL OFFICE IN. PLOVDIV

The opening of the regional office proves the intention of APAC to support the professional accounting companies in the region in the development of their company and professional interests

Sofia, 28 April, 2004 - the Association of the Professional Accounting Companies /APAC/ is opening a regional office in Plovdiv on 30 April, 2004. In  Plovdiv, at 13:00 in Hall No. 4 of the International Fair - Plovdiv.

The main objectives and tasks of the newly opened office will be to present the Association before the Plovdiv public, to promote its goals, tasks and activities and to attract new members of the organization from the region.

The functions of the office of APAC in Plovdiv will concern the organization of the activity of the Association at a regional principle, it will accept membership application forms by professional accounting companies from Plovdiv and from Southern Bulgaria, it will investigate their problems and the problems of their staff and will search opportunities for overcoming them.

A major stress in the activity of the newly opening office will be put on the establishment of a loyal cooperation among the APAC members from the region, by means of developing their interests both at professional and company level.

“The professional accounting companies from Southern Bulgaria will benefit considerably from the presence of a professional organization, which will participate actively in the economic life and will provide conditions for the effective cooperation among the economic entities in the region. I am convinced that the colleagues from the accounting companies will find in APAC a partner, with whose cooperation they can improve their accounting practices, develop their management skills and become competitive in the process of our joining to the European Union" - underlined Mr Nikolay Popov, Manager of the Regional office of APAC in Plovdiv.

Mr Popov is a member of the Managing Board of APAC, authorised to manage the regional office of APAC in Plovdiv. He has a university degree in Economics. He is President of the professional accounting company "Konsult Popov" OOD - Plovdiv and he has a private business in the field of accounting and fiscal services of trade companies for 8 years. Mr Popov has a considerable profesional experience also as a Senior Tax Expert at MF - Sofia.

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