Bulgarian startups are developing solutions according to the latest global technological trends and almost half of them (47%) offer world-class innovation, according to data from the fourth annual InnovationShip report of the MOVE.BG Foundation’s open digital network EDIT. Compared to the previous year’s survey, there is an 18% increase in companies that believe they are […]
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For the ninth consecutive year, Bulgaria ranks first among EU countries in the production of herbs and spices. According to Eurostat data, just over 71,000 tons of aromatic and medicinal plants and spices were harvested in the country in 2018. The harvest of the second in the ranking, Poland, is nearly twice as small – […]
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A Swedish-Swiss concern for the manufacture of electrification products and industrial automation continues developing its business in Bulgaria and opened a new factory in the town of Petrich (Southwest Bulgaria). The company opened its second factory in this Bulgarian town. The new production facility is expected to create 420 new job positions by the end […]
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German auto parts manufacturer VOSS Automotive has officially opened its first factory in Bulgaria. The site is located in the Bahovitsa Industrial Park near Lovech and has been operating since May. The jobs created so far are 100, but by the end of next year their number is expected to increase to 900. Investments in […]
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Bulgaria export overview Bloomberg has ranked Bulgaria as the sixth best country for doing business in eastern Europe and central Asia. The World Bank rates Bulgaria 38th for ease of doing business. A T Kearney ranks Bulgaria as number one in Europe and ninth globally as an outsourcing destination. Contact BG Advise for a free consultation if you’re interested in […]
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Economy Minister Emil Karanikolov and Dr. Carsten Bittner, a member of the Board of Group Technology Foundations Commerzbank AG discussed the bank’s intentions to open an IT Hub in Sofia. During the meeting, the bank’s investment plan was presented and, according to Dr. Bittner, 400 jobs will be initially created for highly qualified IT professionals, with the tendency to […]
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About 100 remarkable Bulgarian scientists contribute to the experiments at the European Organization for Nuclear Research (CERN), the youngest of them being 27 years old and half of them being under 40, CERN Director-General Fabiola Gianotti said in Sofia on Thursday. Gianotti took part in an international interdisciplinary discussion dubbed Relogia Trialogues: Art + Science […]
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BusinessEurope and all its members propose their priorities for the European Union in a new political cycle in 2019-2024. Prosperity, people and the planet – these are the three pillars for a successful Union that should be a source of inspiration for future political decisions. BusinessEurope President Pierre Gattaz said: “European entrepreneurship has a unique feature. […]
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Bulgarian Investment Advantages Bulgaria has some of Europe’s most competitive business costs for foreign investors. Investments in real estate have created a large supply of modern offices at very competitive costs. For European standards, corporate taxes and labor costs are fairly low. Taxes in Bulgaria Bulgaria is making a considerable effort to offer Europe’s lowest corporate taxes. In 2007, corporate tax rates fell to 10% and 0% in high unemployment areas. Value Added Tax (VAT) With some exceptions, the amount of VAT in Bulgaria is 20%. Some deals involve free or VAT purchases / land purchase, shares purchases, etc /. Some are with VAT in a smaller amount. Taxation of Individuals Personal income tax rate: A flat rate or 10% on the taxable income Corporate income tax All companies and partnerships are liable to corporate income tax. These includes non-incorporated partnerships. Corporate income is taxed at the rate of […]
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Odelo Bulgaria opened a new plant in the Industrial Zone near Plovdiv Odelo Bulgaria Ltd. opened a new car lights production plant in the Industrial Zone near Plovdiv. “I thank the Bulgarian workers, engineers and developers for bringing such investors with their good work and qualifications,” said Prime Minister Boyko Borissov at the opening ceremony. […]
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