400 Romanian Firms Registered in Bulgaria in 2011

Business | December 25, 2011, Sunday // 19:38| Views: | Comments: 0
Bulgaria: 400 Romanian Firms Registered in Bulgaria in 2011 Bulgaria's Ruse keeps attracting Romanian SMEs that formally register there. File photo

A total of 400 Romanian firms, primarily "tax nomads", have been registered in Bulgaria in the past year because of the favorable taxation, according to the authorities in Ruse.

In Bulgaria, Romanian companies enjoy a 4% smaller VAT, and 6% smaller corporate tax, the bTV channel noted Sunday, citing the tax administration in the Bulgarian Danube city of Ruse. Bulgaria remains the EU member state with the lowest tax burden.

The Ruse District tax office collected BGN 1.5 M more in taxes from small enterprises in 2011 year-on-year, much of that coming from the dues paid by Romanian firms.

However, experts have pointed out that the impact from the registration of the Romanian firms in Ruse should not be overestimated. For example, very few of them have Bulgarian offices or even employees permanently stationed in Bulgaria.

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Tags: Romania, Ruse, Romanians, VAT, corporate tax, National Revenue Agency, SMEs
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