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Doing Business 2009


The Doing Business Report is a publication of the World Bank and the International Finance Corporation that benchmarks business regulation in 181 economies worldwide. Doing Business has inspired or informed 174 reforms around the world.

 http://www.doingbusiness.org/ExploreEconomies/?economyid=30

Bulgaria passed two new laws- the Civil Procedure Code and the Law for the Commercial Registry- which will speed the resolution of bankruptcy. The Civil Procedure Code removed the requirement for the Supreme Cassation Court to hear all cases. Now the court can decide whether or not to hear a case. Bulgaria made business start-up easier by creating a central electronic database for commercial registration. This reform consolidated and reduced the number of registration procedures and cut other registration formalities. Amendments to the civil procedural code have helped speed contract enforcement. They reformed rules for evidence and default judgments, raised the minimum threshold for cases in the lower courts, and empowered the civil court of last instance to decide which cases to hear, limiting abuse of the appeals process. Bulgaria introduced a new Corporate Income Tax Act and a new Value Added Tax Act to synchronize local tax legislation with EU legislation. Dealing with construction permits has become more difficult. The fees for obtaining construction permits were increased by about 16 percent in 2008. Stricter environmental requirements mean that companies in Sofia now have to obtain a certificate of energy efficiency before and after construction. This adds 2 steps and 8 days for dealing with construction permits.

Areas of Reform: Starting a Business, Paying Taxes, Enforcing Contracts, Closing a Business, Dealing with Construction Permits (making it more difficult)

Doing Business 2009 rank: 45


http://www.doingbusiness.org/Reformers/ECA2008.aspx