In the first quarter of 2016, well over 15 000 Greeks have registered companies in Bulgaria. On average, Greeks open 12 new business accounts at Bulgarian banks every day, according to the Greek Embassy in Sofia.
This is happening in spite of warnings from the Greek government. The Ministry of Finance in Athens has warned tax evaders of strict penalties, in case audits reveal inaccuracies. Still, many Greek companies have moved to Bulgaria, in order to avoid a “tax avalanche”, media reports say.
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