BULGARIA'S ANTI-TRUST REGULATOR TO LOWER UNFAIR COMPETITION FINES
Bulgaria's Commission for Protection of Competition (CPC) has agreed to reduce the size of fines imposed on companies that violate competition rules, the watchdog said.
Effective as of March 21 2011, the fines will now be calculated as a percentage of a company's net revenue rather than its turnover.
The regulator has also decided to lower the maximum fine and will now be able to impose fines of to up to eight per cent of net earnings instead of a maximum penalty of up to 10 per cent of profits.
For the first time, unfair competition breaches will be divided into three categories, namely light, medium and severe violations, which will result in fines of up to two per cent, five per cent and eight per cent of net profits, respectively.
Effective as of March 21 2011, the fines will now be calculated as a percentage of a company's net revenue rather than its turnover.
The regulator has also decided to lower the maximum fine and will now be able to impose fines of to up to eight per cent of net earnings instead of a maximum penalty of up to 10 per cent of profits.
For the first time, unfair competition breaches will be divided into three categories, namely light, medium and severe violations, which will result in fines of up to two per cent, five per cent and eight per cent of net profits, respectively.
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