Bulgaria Hopes To Further Strengthen Links With India: FICCI

Ms Mariyana Nikolova, Deputy Prime Minister of Bulgaria for Economic and Demographic Policy, said she hoped that new initiatives and partnerships will be established to further strengthen the links between Bulgaria and India, speaking at an 'Interactive Session' with the Bulgarian Deputy Prime Minister and the accompanying business delegation, organized by FICCI. She said that Bulgaria offers one of the lowest corporate tax regimes in European Union and foreign companies tend to expand their businesses after setting up base in the country.

"Our taxes are one of the lowest in European Union. Besides having corporate tax of only 10%, we do not tax profit reinvested in municipalities with high unemployment rate. Our tax on dividend is a mere 5%. We also offer a two-year exemption from VAT for imports of equipment designated for investment projects worth over 2.5 million euro," she said.

Inviting the Indian business community for their participation and investments in Bulgaria, Ms Nikolova said that for the Bulgarian government, an important indicator of investor confidence is that after their establishment in Bulgaria, foreign companies tend to expand their production capacity.

"In 2018, President Ram Nath Kovind visited Sofia. This is a clear sign of the efforts to maintain a constructive political dialogue which focuses on furthering the development of relationship between Bulgaria and India. Business and industrial associations have a leading role in this process," she added.

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