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Commenting article: Global Times: Thousands of Greek Businesses Flee to Bulgaria

More than 15,000 Greeks have registered new companies in Bulgaria's tax offices in the first quarter of 2016, the Global Times, a Chinese business edition, has said.

It quotes data from the Greek Embassy in Sofia and a report published by Greek daily Vima ("Tribune").

On average, a dozen accounts opened in Bulgaria on a daily basis, the Chinese Times says, citing Vima.

Jerry - 31 Oct 2016 // 00:05:38

It seems the old ploy of inter-company transactions between the Greek Parent Company and the Bulgarian Subsidiary company. Income remains in Bulgaria low tax rate and expenses remain in Greece at high tax rate causing losses to offset income.

This defeats economic growth, employment and innovation causing a stagnation.

The transaction becomes only paper without credence.

This trick is as old as the Greek gods.

Greeks do not like to pay taxes as revealed by the International Monetary Fund.

Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria