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.
Bilateral relations between Bulgaria and Argentina have received a new impetus for development following the visit of an Argentine delegation from the Chaco province to Bulgaria at the beginning of November . High-ranking officials from the..
Employers are contesting the rise of the minimum wage. The Bulgarian Industrial Capital Association announced that they filed a complaint in the Supreme Administrative Court. About 430,000 people in the country work for minimum wage...
If the political crisis continues, the lost benefits will reach a threshold after which the Bulgarian business will begin to lose competitiveness due to growing deficits in education, healthcare, infrastructure, regional development and demographics...
Mostly Cloudy
Partly Cloudy