Bulgaria’s Parliament adopted the lowest flat tax on income in Europe, making Bulgaria the seventh EU state to adopt a flat tax regime. The amendments to the taxation law will introduce a flat tax of 10% from January. It is expected that the flat tax will boost the foreign investments and increase transperancy.
Archive for November, 2007
This Chapter is Borislav Boyanov & Co.’s contribution to the Labor and Employment Law in the New EU Member and Candidate States, 2007 edition.
EFG EUROBANK concluded the merger of its Bulgarian banking subsidiaries, turning into the fifth largest bank in the country in terms of assets. In 1998 EFG Eurobank acquired a majority stake in Bulgaria’s Post Bank, and in 2006 it bought the majority shareholding of DZI Bank. The two banks were united into one banking institution as a result of the merger.
The new bank will be called EUROBANK EFG Bulgaria and its goal is to become the third largest bank in the country within the next three years, commented its chief executive Anthony Hasiotis.
Borislav Boyanov & Co. advised EFG EUROBANK on all aspects of the reorganization and the merger process, including the corporate and regulatory aspects.