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Greece, Bulgaria agree on actions to tackle tax avoidance by Greek businesses

Once the austerity measures set in, thousands of Greek businesses moved their headquarters to Bulgaria to avoid over taxation. Now, Greece and Bulgaria agreed on a number of actions to tackle smuggling of goods across the borders and the tax avoidance of Greek companies who set up fictitious headquarters in Bulgaria to minimize taxes.

The talks were held between Giorgos Pitsilis, the head of Greece’s Independent Public Revenue Authority, and his Bulgarian counterpart Galya Dimitrova in Athens.

Pitsilis and  Dimitrova assessed the effectiveness of the existing Double Taxation Convention signed between the two countries and discussed ways to widen the legal tools to combat tax evasion and abusive practices in order to safeguard the interests of both countries from such actions and practices, the Authority said in a press release.

The two officials also agreed to intensify and  the exchange of information on smuggling for products which are subject to the 4200 customs procedure.

Pitsilis and Dimitrova also talked about the possibility of signing bilateral agreement to exchange information between tax authorities.  

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One comment

  1. Not exactly holding my breath for results,
    PASOK moved it’s corporate HQ to Bulgaria 5 years ago, among others.