The deputies voted on amendments to the Consumer Protection Act on second reading, informs novini.bg.
The adopted amendments create a minimum level of protection for consumers of financial services, by regulating the provision of pre-contractual information, the right to withdraw from contracts for the provision of distance financial services and the exceptions to the right of withdrawal.
In addition, the adopted amendments also determine the information that traders must provide to consumers before concluding a contract for distance financial services, as well as the requirements for the online interface of traders providing financial services online.
The changes to the Act also affect distance contracts - including contracts for the provision of financial services, concluded via an online interface, an obligation for traders to provide a function for exercising the right to withdraw from the distance contract when the consumer concludes a distance contract electronically.
In distance contracts concluded via an online interface, the trader is obliged to provide the consumer with the opportunity to withdraw from the contract by using a withdrawal function. The withdrawal function shall be indicated by the words “cancel the contract here“ or by a similar unambiguous expression that is easy to read. The withdrawal function must be available continuously throughout the entire period during which the consumer has the right to withdraw from the contract, the amendments stipulate.
The people's representatives also voted on a Bill to supplement the Act on the Ratification of the Convention on Mutual Administrative Cooperation in Tax Matters, as amended by the Protocol to Amend the Convention on Mutual Administrative Cooperation in Tax Matters, which entered into force on June 1, 2011. The draft law was submitted by the Council of Ministers.
The consumer has the right to withdraw from the contract for the provision of financial services remotely, without giving a reason, without owing penalties or compensation, within 14 days from its conclusion or from the day on which he received the terms of the contract and the pre-contractual information. When using an online interface by traders to provide financial services, a ban is introduced on the use of commercial practices that may manipulate the decision of consumers to conclude a contract for the provision of financial services.
The people's representatives ratified a Bill to supplement the Act on Ratification of the Convention on Mutual Administrative Cooperation in Tax Matters, as amended by the Protocol to Amend the Convention on Mutual Administrative Cooperation in Tax Matters, which entered into force on June 1, 2011. The draft law was submitted by the Council of Ministers.
"The main goal is to update the list of taxes specified in Annex A to the convention, including the three taxes - primary additional tax, secondary additional tax and the national additional tax, which introduces global minimum taxation into national legislation", explained Deputy Minister of Finance Lyudmila Petkova in the plenary hall. "The inclusion of these taxes will provide the necessary legal basis for Bulgaria to implement the mechanisms for international administrative cooperation, exchange of tax information, namely - automatic exchange of information, exchange of information upon request, spontaneous exchange, simultaneous audits, participation in foreign inspections, collection of receivables, etc.", she added.
Following a proposal by Konstantin Prodanov from "Progressive Bulgaria", the bill was adopted on second reading during today's plenary session.