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Friday 22 January 2010

New Property Law delayed till May-Earliest

The new law requiring all property transactions to be through bank accounts, to reduce fraud, will not be operational till May/June according to parliament sources.The idea was to abolish the cash only tax avoidance deals that are normal in Bulgaria.The new system, based upon the French, one is flawed in that you can pay X through the bank accounts and thus for tax,but actually top it up with a cash payment of Y so not alot different to the current set up.

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