What taxes do we pay on crypto asset transactions in Bulgaria?

In my practice as a blockchain lawyer, issues often arise that are more practical than technological in nature and require knowledge of various areas of civil, tax and criminal law. One of these questions is what taxes do we pay on crypto asset transactions? Here we need to make the natural distinction between crypto transactions carried out by individuals and crypto transactions involving legal entities.

1. Taxes payable on crypto asset transactions by natural persons.

The topic is regulated in the Law on Personal Income Taxes. In Article 33, paragraph 4 of the Income Tax Act it is written as follows: 

1.1. The taxable income from the sale or exchange of shares, units, compensatory instruments, investment vouchers and other financial assets, including virtual currencies, as well as from foreign currency trading is determined as the sum of the profits realized during the year, determined for each specific transaction ,  reduced by the amount of losses realized during the year , determined for each specific transaction, is reduced by 10 percent of costs.