The Finance Ministry of Bulgaria has revised its plans to set corporate profit tax at 15% starting from 2005 and is now considering a rate of 20%. The current tax rate amounts to 23.5% and is due to decrease to 22% next year.
Hebros Bank completed the first stage of their national education campaign about bank credit financing offered to small- and medium-sized businesses (SMEs).
Factoring turnover for Bulgaria in 2001 recorded an increase of about 20% and reached a volume of 96,000,000.
Demirbank Bulgaria has been bought by a Turkish consortium consisting of the former owner of the bankrupt Turkish bank, Halit Cingilioglu, and Mr Aidan Dogan, the owner of Dogan Holding. The consideration was not disclosed.
