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Ivan Petkov

In its proposals to the creditors to reduce the budget deficit, the Greek government has included the amount of 24 million euro in revenue that it expects to obtain from the 26% tax on business transactions with Bulgaria, Ireland and Cyprus. Since Ireland’s trade turnover with Greece is not significant, this amount will be charged mainly on business transactions with Bulgaria and Cyprus.

"Negotiations for the cancellation of the tax are taking place at the state level. The Bulgarian Chamber of Commerce and Industry has the support of a wide range of organizations in Greece, including employers, exporters from northern Greece. Every employer with an analytical mindset knows that this tax is harmful," Chamber President Tsvetan Simeonov told GRReporter.

According to him, it will drive those Greek companies that are operating in the Bulgarian territory to stop exporting to Greece because of the additional taxation of their goods and they will export them to other markets. They are producing the goods in Bulgaria, exporting them abroad and the result from their operations will remain in Bulgaria. "Let Greece act as it makes such poor analyses," said Simeonov.

More than 11,000 Bulgarian companies with Greek participation are operating in Bulgaria, generating an annual turnover of 3 billion euro in both countries. The additional tax will decrease trade between Bulgaria and Greece by 20%, Tsvetan Simeonov said in an interview with GRReporter.