Germany will invest DEM 100 million in Bulgarian tourism in 2001, Mariana Assenova, Deputy Minister of Economy, said after the meeting of the joint Bulgarian-German Tourist Council. Germany invested the same amount last year according to official statistics. German tourist bookings are expected to increase by 25 percent compared to 2000, or by 350,000 holiday makers. The council has drafted two proposals concerning introduction of VAT on tourist services. The first one reads that VAT will be introduced as of 2003. Under the second are envisaged differentiated stakes, which will be up to 10 percent for the tourist industry.

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