On 5 November 2018, the Bulgarian Ministry of Finance launched a public consultation on draft tax legislation including measures to improve administration and controls. One of the main aspects of the draft legislation is the introduction of new Local and Master file requirements in line with BEPS Action 13. Key points include: Both local and foreign legal entities carrying out business activities through a place of business in Bulgaria are required to prepare a Local file if performing controlled transactions, with certain exemptions including where the following thresholds are not exceeded as of 31 December of the previous year: Book...