Bulgaria is lagging behind Central and Eastern European countries in terms of banking services use, according to research by marketing agency GfK Bulgaria.

According to the survey, the penetration of alternative financial services via internet or telephone in the country is extremely low, which in turn affects the segment’s potential.

Half of the respondents in the survey admit they did not use the services of even one bank in 2009, with only 14 per cent of the total saying they resorted to more than one financial institution.

Despite the negative trend, however, the number of local banks’ customers has started to increase in 2010, reaching 57 per cent of the total population as at end September against 54 per cent a year earlier.

The result, however, sends the country at the bottom among CEE peers together with Romania.

“The use of financial services is determined by the development of the society,” according to GfK. “Moreover, the matter is related to the ongoing processes in the banking system of the country.”

Debit cards are the most popular banking products, owned by 40 per cent of Bulgarians older than 15. However, only eight per cent of the population use them.

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Tax season is the most agonizing one for tax payers. No matter how much you run away, you have to sit down with a bundle of papers and start battling with numbers, an activity that never seems to have an end! One can say that tax preparation is similar to visiting a dentist, something you try to resist till the last moment until you have no choice left when considering the penalty sword hanging above the head. Waiting for tax preparation till the last moment is like buying presents for your entire family on Christmas Eve! The options you have are less, few solutions are available, time is low, and the crowd is unbearable. So a good advice would be to get done with the job early on and save yourself from the confusions of later.

What will happen if you don’t prepare your tax on time? Your heart will remain burdened, your mind will constantly ping you on the undone work, and you’ll fear facing that final number. If you don’t prepare your taxes timely, you’ll have to suffer from these thoughts for quite a long time. Why not prepare your taxes early on and save your emotions from all this threat and emotional stress?

While preparing taxes, make sure your entire focus remains on your taxes and nothing else like TV, children, etc. Diverting your attention will not only make your task seem lengthy and boring, but it may also affect the accuracy.

Keep the above points in mind while preparing taxes yourself, and also if you are working with tax professionals as you won’t have to pay more with better organization of your taxes.

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