БСЦ МСП-Русе

Business Support Centre for Small and Medium Enterprises

New in Bulgaria: All Online Purchases from Outside the EU will be Subject to VAT

pixabay.com From today, all online purchases from outside the European Union will be subject to VAT. Until now, receiving only small shipments up to 22 euros has been exempt from tax. In addition to charging VAT, a customs declaration will be submitted for the shipments. The change enters into force as part of the European Union's e-commerce package, which introduces new rules
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Most Bulgarians Are Afraid to Report Corruption Shows Survey

Accroding to international survey requested by Transparency International most Bulgarians (56%) believed during the last year of "Borissov 3" government mandate that the prime minister and members of his cabinet are involved in corruption. When it comes to MPs, this share exceeds two thirds (67%). Almost as many (65%) say they fear consequences for them if they report corruption
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More than 1,500 Companies Are Seeking Compensation for Closing of Their Business in April

More than 1,500 Bulgarian companies have applied to the National Revenue Agency (NRA) for compensation between March 22 and April 30, when their activities were banned due to the coronavirus pandemic. This is the third phase of the working capital support program, and June 22 is the last day on which the affected companies can apply to the NRA. BGN 55 million are provided
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Economy Minister Announces New Loans to Help Small and Medium-seized Businesses in Bulgaria

mi.government.bg The Bulgarian Ministry of Economy has signed an agreement with several commercial banks and now small and medium-sized businesses can apply for loans without collateral. This was announced by the Minister of Economy Kiril Petkov at a briefing on Tuesday. Companies that have been operating for at least 3 years can apply for these loans. The loan is for up to 7
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Bulgarian NRA Collected BGN 4 Мillion Unpaid Taxes in 7 Days

The National Revenue Agency (NRA) collected over BGN 4 million in outstanding payments in just 7 days. Dozens of debtors have committed to pay more than BGN 9 million for taxes and social security contributions in the next 2 weeks, the NRA announced. "This is due to the involvement of the territorial directors of the National Revenue Agency and the organization of emergency
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Can Bulgarian Tourism Survive without Foreigners This Summer?

Bulgaria is hoping that an initiative offering free holidays to schoolchildren will relaunch its tourism industry. But for the sector to fully recover, foreign tourists need to return in large numbers. Bulgarian tourism – such a key sector of the country’s economy – had a poor 2020. As a direct consequence of the Covid-19 pandemic and the subsequent restrictions placed
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World Is Transforming Bulgaria Lags behind – Economic Expert

For a long time, the topic of economics and economic development of Bulgaria was not a priority of the governments, said in an interview with BNR Georgi Naydenov, Master of International Economic Relations. "What we're seeing are shady affairs, tabloids, wiretapping scandals, as if the whole world goes around such things. We don't see what's coming our way. The
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Bulgarians Growing Poorer, Spend Their Rainy Day Funds

Since the beginning of the year, Bulgarians have closed about 1,200 small deposits accounts every day. The data of the Bulgarian National Bank (BNB) by the end of March show that on a quarterly basis the savings of up to BGN 1,000 in commercial banks decreased by almost 106,000, or more precisely 105,828. This means that per month we close 35,276 small deposits and 1,175 per
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National Statistical Institute Reports 2.5-Percent Economic Growth in Bulgaria

Bulgaria’s economy grew by 2.5 per cent in the first quarter of the year, according to preliminary data announced by the National Statistical Institute (NSI) on June 8. The figure was in line with NSI’s flash estimate released last month. Compared to the same period of 2020, Bulgaria’s economy shrank by 1.8 per cent in the first quarter. In real terms, gross domestic product
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No Russian Holidaymakers in Greece and Bulgaria This Summer

Russian tourists, it seems, will be avoiding beaches in Greece and Bulgaria this year. Our take is that the epidemiological situation surely cannot be the excuse and that the Kremlin has decided which countries to reward with tourists and which to punish. And the numbers are not negligible. In 2019, Greece received more than 500,000 Russian tourists. In Bulgaria, the official
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