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Bulgaria's Low Tax Regime Draws Investment

by Ulrika Lomas, Tax-News.com, Brussels

29 July 2011


Business formations in Bulgaria by entities from Romania and Greece have risen markedly in recent, new statistics show - a testament to the reforms put in place by Bulgarian authorities to attract foreign investment.

Figures reported in the Bulgarian media show that the number of Romanian companies registered in Bulgaria soared from 33 in 2006, to 272 last year.

Meanwhile, the number of Greek formations increased increased three-fold in the same period, according to tax authority data, to 2,072 in 2010. There were 800 registrations in the first half of this year alone, a trend that is likely to continue for the remainder of the year.

Bulgaria offers one of the lowest corporate income tax rates in Europe at 10%. This is 15% lower than the rate offered in Greece, and 6% lower than in Romania. In addition, it is said that companies choosing to establish operations in Bulgaria are subject to less red tape than their counterparts in Romania.

TAGS: tax | business | corporation tax | Bulgaria | Romania | Greece

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