Why Zara Consult?
We are an independent company of Chartered Accountants, Business Advisors and Tax Consultants based in Sofia, Bulgaria.
International Tax Planning Association ISO 9001
WTP Advisors Bulgarian Chamber of Commerce
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The eurogroup supports Bulgaria on the way to the Eurozone

The Eurogroup welcomes the intention of the Bulgarian authorities to put in place the necessary elements for a successful entry into ERM II.  Following constructive discussions with the ECB, the Commission, the euro area Member States and Denmark, Bulgaria has taken a number of commitments in policy areas which are of high relevance for a…
 




Cheap euro transfers in Bulgaria

Bulgarian banks and customers benefit of the political agreement on a Commission proposal from the European Parliament and the Council and finally the cross-border payments in euro will become cheaper. The agreed rules will also bring full transparency in currency conversion when consumers are paying by card. The Commission welcomes the political agreement that will…
 




Standard&Poor’s affirms Bulgaria’s credit rating, outlook remains positive

The international S&P Global Ratings agency affirmed its 'BBB-/A-3' long- and short-term foreign and local currency sovereign credit ratings on Bulgaria. The outlook was also affirmed and remains positive. S&P Global Ratings summarises that Bulgaria's monetary conditions continue to improve, credit conditions support growth, and the country is making steadfast progress on entering the Exchange Rate Mechanism II (ERM…
 




The macroeconomic forecast of the European commission expects Bulgaria’s growth momentum to remain strong

The European Commission expects the growth of the Bulgarian economy to reach 3.7% growth in 2019. Investments remain strong, enjoying the support of the low interest rate environment and EU funding absorption. Domestic demand is a major driver of the domestic economic activity. Private consumption growth is supported by positive developments in the labour market,…
 




Bulgaria and Double Taxation Avoidance Treaties /DTT/ – A Friendly Tax Regime!

Bulgaria is one of the jurisdictions with a friendly tax regime and has the objective to provide a better business climate with less bureaucratic procedures for small and medium-sized businesses by harmonization of the national legislation with that of the European Union /EU/.  Recently, Bulgaria has made considerable progress in successful integration of the EU law in its…
 




BREXIT – happy end or impasse?

After months of negotiation, the UK and EUhave agreed a BREXIT deal. Exactly at 11 o'clock on Friday, 29 March2019 – UK leave the EU.  It can beextended if all 28 EU members agree, but at the moment all sides are focusingon that date as being the key one. So BREXIT is definitely happening. Many…
 




BREXIT – THE TEMPLE OF DOOM

It took British Prime Minister, Theresa May a year and a half to reach a Brexit deal with the European Union. Britain has the imperfect deal that it was always going to get. It took less than a month to be clear that the parliament will not approve the proposed Brexit agreement and it is…
 




ME Digitization Supports Bulgarian Exports

Bulgarian government supports the digitization of SMEs and increasing the share of digital trade as a strong instrument to increase Bulgarian export. The Economy Ministry strives to be an active partner of businesses and global leaders in the sphere of ICT. Incentives like joint courses organized with Google which have taught digital skills to 26,000…
 




Running a Business in Bulgaria

When John Hazlewood told one of his advisors he was planning to hire a team of Bulgarians to build and operate his online travel company, the advisor thought he'd lost it, according to Hazlewood. Today, with TheStoreMaker.com up and running, Hazlewood is proving that basing his high-tech business in Bulgaria makes sense. The small country, located near…
 




Foreign direct investment in Bulgaria in the first half of 2017 stood at 405 million euro, the equivalent of 0.8 per cent of the gross domestic product.

Foreign direct investment in Bulgaria in the first half of 2017 stood at 405 million euro, the equivalent of 0.8 per cent of the gross domestic product (GDP), statistics from the Bulgarian National Bank (BNB) showed. In the same period of 2016, FDI was 760.9 million euro, but the original amount reported by BNB last…
 




Bulgaria the perfect mid-shore option….

Why Bulgaria? The OECD and EU Initiatives bring about a lot of changes. From FATCA to GATCA, BEPS, AML/CFT Directive, Tax Rulings, Global Transparency, Exchange of information, UBO’s Registers and many more…  CSPs under a magnifying glass… How should we deal with it? With all these rules being changed rapidly and frequently, in facing…
 




Bulgaria to implement TOMS for wholesale supplies

The Bulgarian authorities have announced that with effect from 1 January 2017, the tour operator's margin scheme (commonly referred to as TOMS) will apply to B2B wholesale supplies of travel packages, as well as supplies made to end users. Until now, as with a number of other EU member states, B2B wholesale supplies have been…
 




Brexit –The Global Business Impact

When the 5th largest economy in the World leaves the EU, it definitely will reflect on all others. While UK slowly starts Brexit processes, the impact on UK, the rest EU countries and least but not last - on each 3rd country is definitely noticeable. The main obstacle which Brexit will accrue to UK and…
 




Bulgaria: The most attractive IT outsourcing destination in Europe

OUTSOURCING TO BULGARIA In the course of the most recent decade, the IT business in Bulgaria has expanded profoundly in terms of its capabilities. Considering this fast yet stable advancement for Outsourcing to Bulgaria, the country can be seen as one of the best outsourcing destinations in a worldwide perspective. In the past, agriculture, metallurgy,…
 




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