Phyrfight Intel

by Simon Black

“Bulgaria, from where I write this letter, is an interesting case. As the poorest member of the EU, there is a lot of opportunity at face value. Labor is dirt cheap. Property is dirt cheap. Living costs are a joke. English is widely spoken and is, in fact, more prevalent than Russian in the capital city.

Now, this is not a part of the world where tax compliance is particularly strong. The immediate post-Soviet years turned the entire region into a veritable Deadwood, and devoid of any functioning tax authority, people got used to dealing in all cash and keeping 100% of their earnings.

Several governments, including Russia, Ukraine, and Bulgaria, have tried to make compliance easy by slashing tax rates. At just a 10% flat rate for corporate, individual, and capital gains, and just 5% on dividends, taxes in Bulgaria are now so low that some people might actually pay.”

http://www.sovereignman.com/expat/where-taxes-are-so-low-some-people-might-actually-pay