GENERAL INFORMATION Geographic location: South East Europe, Balkan Peninsula Government: a Parliamentary Republic Population: 7,97 mln. Total area: 110 099 sq.km Borders: North – Romania, South – Greece and Turkey, West – Serbia, Montenegro, Macedonia (FYROM), East – Black sea Capital: Sofia Time – GMT + 2 Religion: Eastern Orthodox Middle temperature in winter – 0 to –2 C Middle temperature in summer – 20 to 22 C FINANCIAL INFORMATION Monetary unit: Bulgarian lev Monetary system: Currency board Fixed currency: 1 euro = 1,9558 Bulgarian lev ECONOMICAL INFORMATION Corporate Income Tax – 10% from the benefit Value Added Tax – 20%