Prof. Steve Hanke: Bulgaria Has a Low Flat Tax and That's Great
Bulgaria has made very limited progress on reforms in the economy and this has led to weak investor interest in your country. Such an opinion expressed to Darik news the American economist, Prof. Steve Hanke.
''State administration reforms are needed, as well as the removal of some rules for regulation'', Professor Steve Hanke said.
"Bulgaria has a low flat tax and that's great, it's one of your good advantages as a country, and if you look at the World Bank's analysis, you'll see that the bank's experts are finding a tax problem, the flat tax is just one tax, but if you want to register a medium-sized business in Bulgaria, it takes 453 hours a year, in Central Asia and elsewhere in Europe, registration takes about 250 hours, saving time. The bureaucratic administration system for taxes in Bulgaria is a nightmare. It makes you unattractive country, ", Hanke added.
The American economist is convinced that the expected recession in the Eurozone will have a negative impact on the Bulgarian economy.
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