Bulgaria Needs at Least 1 Billion Euro under Separate Operational Programme for Science and Innovation, Expert Says

Sofia, August 5 (BTA) - The Bulgarian Chamber of Commerce and Industry (BCCI) proposes that corporate investment in innovation projects be exempt from tax, BCCI Board member and BCCI Innovation Council Co-Chair Yossif Avramov said, interviewed by BTA.

The institution estimates that Bulgaria needs at least 1 billion euro under a separate operational programme for science and innovation in the next seven years.

The BCCI also proposes reducing the percentage of co-financing required from beneficiaries of Operational Programme

Competitiveness to no more than 10 per cent from the current 20 to 50 per cent, because most applicants experience serious financial problems. Avramov said it is necessary to make practical steps to expedite the assessment procedures for EU-backed projects, and one way is to outsource the service.

The imposition of judicial control over the discontinuation of audit procedures will help curb and eventually eliminate the randomness in the tax administration's decisions about what procedures to drop and what not, he said.

It is imperative that at least 20 million leva be allocated from the 2013 national budget to the National Innovation Fund,

according to Avramov. Similarly, the allocation to the Scientific Research Fund should be increased to at least 40

million leva.