Bulgaria preserves low corporate tax

06.03.2012 Only in some hours prior to the opening of the summit of heads of the European states in Bruxelles which has taken place on March, 1st, 2012, the prime minister of Bulgaria, Bojko Boriss, in his performance has declared that in the foreseeable future Bulgaria intends to keep the present rate of corporate tax. We remind that incomes of the Bulgarian companies are suffered under the rate in 10 %. Currently only in Cyprus the same tax rate is preserved.

Bulgaria is one of 25 EU countries who signed in Bruxelles the European joint tax agreement directed on creation of more strict responsibility requirements at national budgets formation of the countries-participants and on strengthening of economic stability in Europe.

The decision to participate in this agreement was accepted by the cabinet of Bulgaria in February of this year. However, there were conditions which ascertain that the state can quit it if other countries raise a question about the necessity of increase of tax rates for Bulgaria to level of other European countries.

Expert’s opinion

«It’s not a secret that considerable number of the international companies annually migrates to Bulgaria, and international investors continue to invest actively in real estate in the territory of the country.

Preservation of low level of the corporate taxation by Bulgaria at signing in Bruxelles the European joint tax agreement, as well as the fact of its participation in the European Union, is one of the major factors of economic advantage of Bulgaria.»

On the basis: http://www.government.bg/

Lomakina Irina ( the director of Moscow office of Honest & Bright)