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APPLICATION OF THE EUROPEAN FREE TRADE AGREEMENTS WITH THIRD COUNTRIES
AND THEIR IMPORTANCE FOR THE POSITION
OF CUSTOMS CONTROL IN BULGARIA
Goods origin should be regarded as a complex economic category, which, from a customs perspective, predetermines the existence of specific control guidelines. The variety of free trade agreements between the EU and third countries introduces a number of requirements, the compliance of which must be verified by the customs authorities. This ...
Goods origin should be regarded as a complex economic category, which, from a customs perspective, predetermines the existence of specific control guidelines. The variety of free trade agreements between the EU and third countries introduces a number of requirements, the compliance of which must be verified by the customs authorities. This necessitates the availability of clear technological provisions regarding the issue of proofs of origin by the Union and the verification of such proofs provided by beneficiary countries.
The study aims to assess the feasibility of the free trade agreements between the EU and third countries in our country and thus define and justify the specific characteristics of the customs procedures with regard to the origin of imported goods. This aim has been achieved through:
First. Assessment of the free trade agreements between the EU and third countries in terms of their importance;
Second. Assessment of the relevance of the European free trade agreements for the Republic of Bulgaria;
Third. Discussing the specific characteristics of the main customs procedures for control of the origin of the goods.
The main research thesis is that the provisions of free trade agreements and the related origin of imported goods are the main subject of customs control and, as being such, they have a significant impact on the foreign trade relations of our country.
As a result of the study, the importance of EU free trade agreements with third countries has been justified by the position of the customs control carried out in the Republic of Bulgaria. The foreign trade relations of our country have been analyzed and conclusions have been drawn as to the extent to which the Bulgarian business benefits from the possible customs preferences based on the origin of the goods.
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INFLUENCE OF THE LEGAL FRAMEWORK
IN DETERMINING THE REQUIRED AMOUNT
OF TECHNICAL RESERVES FOR MOTOR THIRD PARTY LIABILITY INSURANCE
The problems arising from the recent global financial and economic crisis have led to a rethinking of many texts both in local laws and at Community level. New rules and regulations have gradually been introduced concerning all economic agents operating within the European Union. The introduction of these regulations in the field of insurance is ...
The problems arising from the recent global financial and economic crisis have led to a rethinking of many texts both in local laws and at Community level. New rules and regulations have gradually been introduced concerning all economic agents operating within the European Union. The introduction of these regulations in the field of insurance is associated with the adoption of Solvency II Directive. The implementation of the Directive in the Bulgarian legislation was realized with the adoption of a new Insurance Code, effective as of 1 January 2016 and Financial Supervision Commission’s Ordinance No 53 of 19 January 2017, which determines the order and method of allocation of technical reserves by the insurers working on the Bulgarian insurance market.
The study assesses the impact of the regulatory framework on the technical reserves of insurance companies offering Motor Third Party Liability Insurance. It outlines the problems that insurers have to deal with and the effect that the methods, used for calculating the required amount of technical reserves, have on the insurance company’s balance sheet.
The study has shown that there are differences in the methodologies described in the Solvency II Directive and Ordinance No 53 of Financial Supervision Commission. They concern the valuation of insurance companies’ assets and liabilities, the recognition of cash flows and the treatment of insurance income and expenses. Therefore, legislative changes are needed to synchronize the requirements of Bulgarian legislation with the European Directive Solvency II, with a view to optimizing the amount of technical reserves for Motor Third Party Liability Insurance.
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EVALUATION OF THE IMPACT OF THE WORLD ECONOMIC CRISIS ON THE REAL ESTATE MARKET IN THE MEMBER STATES OF THE EUROPEAN UNION (ON THE EXAMPLE OF THE REPUBLIC OF BULGARIA AND GREECE)
The analysis of the real estate market has been directly related to the dynamic development of the overall price level in recent years. By focusing on the period 2008-2016, we draw attention to the influence of the two main factors - the accession of Bulgaria to the EU and the impact of the global financial crisis, which reflects most seriously on ...
The analysis of the real estate market has been directly related to the dynamic development of the overall price level in recent years. By focusing on the period 2008-2016, we draw attention to the influence of the two main factors - the accession of Bulgaria to the EU and the impact of the global financial crisis, which reflects most seriously on the sectors of construction, production and services. The focus of this paper is on the real estate market in Bulgaria in parallel with Greece, as a neighboring country that has suffered the harsh economic consequences of the crisis. The main research thesis on which the present study has been built is that the geopolitical and economic shocks on a global and national level are a key factor determining the potential of the real estate market. The main objective is to analyze the state of the real estate market in Bulgaria and Greece. The tasks assigned by the authors are:
- consideration of the main features of real estate markets in Bulgaria and Greece;
- outline the main trends of the real estate market in Bulgaria and other member states from Central and Eastern Europe;
- Investigating the potential for investment in real estate in the member states of the European Union by applying the method of Z. Helving;
- comparative analysis and assessment of the real estate market in Bulgaria and Greece and outlining the trends of its future development.
As a result of the survey a grouping of the European Union countries on indicators for the mortgage market, the real estate market and the economic potential of the countries was carried out. The peculiarities of investments in real estates in the member states of the European Union are distinguished, focusing on the Republic of Bulgaria and Greece and the main factors of the supply and demand for real estate.
