Bulgaria is strategically located in southeast Europe in
the region known as The Balkans. It shares national borders
with five countries and the Black Sea lies on its eastern
border. It has a population of around 7.5m. Its capital city,
Sofia, is one of the oldest cities in Europe and has good
transport connections to other parts of Europe and Asia Minor.
Bulgaria joined the European Union on 1st January, 2007 and
retains its currency, the Bulgarian Lev (BGN). There are no
immediate plans to adopt the Euro as its currency. Bulgaria
is also a member of NATO.
Bulgaria has suffered from high inflation, mismanagement
of the economy and corruption since the fall of the Soviet
Bloc in 1989. However, economic reforms were introduced in
the late 1990s and the economic picture has since improved.
Following a period of sustained growth that saw the Bulgarian
economy grow to USD95.17 billion, the economy shrank by around
5% in 2009, to USD90.51 billion, representing a drop per capita
from USD13,100 in 2008, to USD 12,600 in 2009. Bulgaria officially
went into recession in the first quarter of 2009.
The Organisation for Economic Cooperation and Development has released figures showing that, while there are 38 signatories to its Anti-Bribery Convention, only a remarkably small minority are actively engaging in the sanctioning of individuals and companies. RSS
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In the wake of increased calls for a vote of no confidence in the government,
Bulgaria’s Finance Minister Simeon Djankov announced the preparation of
legislative amendments, designed to ensure that changes to direct taxes imposed
on individuals and corporations would only be implemented following a national
referendum. RSS
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The European Commission has published a Consultation, which marks the commencement of a comprehensive multi-year review of the major cross-border issues faced by EU citizens, and proposes solutions for them. RSS
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I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!Mary
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD. Do I pay tax in France or Australia or both ? Any help or guidance would be much appreciated.France move
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