Bulgaria has defined small enterprises as companies with annual turnover of up to BGN 5m (Ђ2.5m).
Companies with annual turnover of up to BGN 8m (Ђ4m) fit the requirements for medium-sized enterprises as envisaged by the agreed amendments to the Small and Medium Sized Enterprises Act.
The parliamentary commission had proposed higher thresholds, adjusted to the EU Directives, but they were rejected.
Source: Novinite
