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Bulgarian Business NGO Calls for Tax-Exempt Investments in Innovations

Business | August 5, 2012, Sunday // 15:46| Views: 768 | Comments: 0
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Bulgaria: Bulgarian Business NGO Calls for Tax-Exempt Investments in Innovations The Bulgarian Chamber of Commerce and Industry (BCCI) has called for tax-exempt investments in innovations. Photo by dariknews.bg

The Bulgarian Chamber of Commerce and Industry (BCCI) has argued that companies' investments in innovations should be exempt from taxes.

In a Sunday interview for the Bulgarian Telegraph Agency, Yosif Avramov, Co-Chair of the Innovations Council at the BCCI and Member of the organization's Managing Board, insisted that Bulgaria had to have at least EUR 1 B earmarked for science and innovations under a special operational program in the next programming period.

Avramov also presented another proposal of the BCCI for reducing the own resources for beneficiaries of projects co-financed under the Competitive Power Operational Program from the current 20-50% to no more than 10% due to the serious financial problems experienced by most applicants.

Avramov reasoned that it was necessary to take steps to fast-track assessment procedures of EU funded projects, for instance by outsourcing the activity.

The Co-Chair of the BCCI Innovations Council emphasized the importance of introducing judicial control over acts terminating audit proceedings.

He suggested that the step would be crucial for the gradual reduction and eventual elimination of biased decisions on the part of the revenue administration as regards decisions about the termination of audit proceedings.

Avramov noted that it was urgent to allocate at least BGN 20 M under Draft Budget 2013 for the National Innovations Fund and at least BGN 40 M for the Scientific Research Fund.

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Tags: Bulgarian Chamber of Commerce and Industry, BCCI, innovations, EU programs, co-financing, scientific research
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