Value Added Tax for Investors

Krasimira Naydenova ()
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Krasimira Naydenova: University of Economics - Varna

Regional Economy and Sustainable Development, Conference Proceedings 2017, 2018, issue 2, 422-429

Abstract: Investors on the Bulgarian capital market suffer serious problems with VAT enforcement by tax officials. This can lead to serious consequences as investors' transaction costs increase, and confidence and certainty as key factors for the attractiveness of the Bulgarian capital market are worsening. Obstacles to investors lead directly to their outflow, which is critical for the emerging Bulgarian market, which is still illiquid. The corrupted market worsens the financing of companies as it represents one of the only three sources of long-term venture capital and this hinders the sustainable development of the national economy.

Keywords: VAT; capital market; investors; institutional efficiency. (search for similar items in EconPapers)
JEL-codes: A00 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:vra:pr1803:y:2018:i:2:p:422-429

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