Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Higher profit tax for companies with annual turnover of more than 750 million euros

Photo: library

Large business to pay 5% additional profit tax, but with a relief of 8% if it invests in tangible fixed assets. This is what the parliament decided at the second reading of changes to the Corporate Income Tax Act.

The project proposed by the cabinet for the introduction of an additional "profit tax" of another 5% on top of the current 10% for large corporations is based on a European directive. The MPs complied with the request of the Bulgarian Industrial Capital Association to introduce the tax with the reliefs allowed by the European directive. In this way, the "profit" tax actually remains at the previous level of 10%, which is the practice in the EU.

According to the Ministry of Finance, the additional tax affects about 500 large companies, mainly branches of foreign companies operating in the country.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Natural gas prices up 3% in October

The final price proposed by Bulgargaz for the sale of natural gas to its customers in October is BGN 63.72 (EUR 32.58) per megawatt-hour before tax. The 3% price increase is expected to be approved by the Energy Regulatory Commission. The October price..

published on 10/1/24 5:12 PM

Commercial operations of the Alexandroupolis LNG terminal begin

T he  LNG terminal near the Greek town of Alexandroupolis has officially srarted commercial operations today, the Greek company Gastrade announced. The facility features state-of-the-art technology with a maximum regasification capacity of 5.5 billion..

published on 10/1/24 11:01 AM

NSI: Business expectations fall due to uncertain economic environment

In September, the overall Business Climate Indicator for the country decreased by 1 point compared to August. The decline reflects a less favourable assessment in the industry sector, where the indicator fell by 5.2 points. Managers in industry reported..

published on 9/30/24 2:02 PM