Weather In Bulgaria On March 29: Sunny Skies and Rising Temperatures Across The Country
Bulgaria is set to experience favorable weather conditions on March 29, with mostly sunny skies forecasted across the country
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The Romanian cabinet refuted officially on Monday information that thousands of Romanian companies move or are moving their business to neighboring Bulgaria.
In an official statement, issued by Bucharest, the number of such companies is listed at 284 – these businesses have been registered and operating in Bulgaria by July, 2010.
"We further want to point out that we cannot even make a conclusion that these 284 companies have been established in 2010 or are the result of their relocation to Bulgaria," the statement reads.
It comes on the heels of numerous Bulgarian media reports that nearly 2 500 Romanian companies flocked to the southern neighbor over the spending cuts and austerity measures imposed in Romania, lower taxes and better business conditions across the Danube.
In Bulgaria revenue and profit taxes are 10% compared to 16% in Romania. The Value Added Tax (VAT) is also lower. Bucharest recently had to up VAT as a condition to obtain a EUR 2 B loan from the EU and the International Monetary Fund (IMF).
In addition, it is much easier to establish a company of Bulgaria where one needs less than a week and BGN 2 as initial capital.
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