’60 000 Greek companies to move to Bulgaria’ – Hellenic business association chief

About 60 000 Greek companies intend relocating to Bulgaria because of higher taxes on companies, capital controls and the Tsipras government’s inability to deal with their problems, according to Vassilis Korkidis, president of the Hellenic Confederation of Commerce and Entrepreneurship.

Korkidis, who has been consistently critical of the current Greek government’s policies and whose confederation sent an open letter to the Greek government in January calling for steps to avoid businesses taking flight from the country, was speaking to Greece’s Skai TV on July 19.

He said that the further borrowing meant that corporate taxes would rise from 26 to 29 per cent, which in turn would mean many companies, most of them SMEs, would go out of business.

According to Korkidis, the Greek government was “incompetent” because the auditing committee meant to examine requests by SMEs for capital control exemptions had failed to do its job, Greek and Bulgarian media reports on the Korkidis interview quoted him as saying.

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(Photo of Korkidis: ueapme.com)