GREY ECONOMY
The size of the grey economy in Bulgaria is 30% of the country’s GDP or 21 billion levs for 2008 according to the Budget Committee of the Bulgarian Parliament. In comparison the whole of the budget for this year is 27 billion levs. The analysts claim that the negative tendency is due to the change of legal environment in Bulgaria after the EU accession together with the high expectations for the businesses in parallel with the political instability in the Interior and Economic Ministries.
The grey sector is mainly focussed in construction, tourism and agriculture. Most of the time the real turnover is not declared which leads to unreasonably low taxation.
Related posts:
Category: Bulgaria, Economy | Tags: agriculture, budget, Bulgaria, business, businesses, construction, grey economy, taxation, taxes, tourism, turnover Comment »