ATHENS: Bulgaria will face €800 million loss, if Greece decides to implement a 26% tax on contracts with local companies. The calculation was made by using national statistical data, showing that the annual stock exchange between the two countries amounts to €2. 8 billion, therefore 26% would mean €800 million less for the Bulgarian economy.
Additionally, Deputy Finance Minister Kiril Ananiev stated the severity of the situation at a news conference on Tuesday. The economic analysis was presented at the regular sitting of the Budgetary Commission to Parliament.
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The tax currently affects Ireland, Cyprus and Bulgaria. The Greek government is now working on the regulations but the intention stated is for contracts with companies from the afore mentioned countries to be taxed at a 26% rate.
