Personal Income Tax is the lowest in Bulgaria

Bulgaria remains one of the leaders in the field of personal taxation at the lowest rate for the European Union by 10%. This study shows the consultancy and auditing company KPMG International. It was conducted in 86 countries and the company state that the countries of the European Union, Bulgaria ranks first in terms of burden of the citizens. In combination, the low tax rate and social security burden does make Bulgaria an attractive both for individuals and for employers and potential investors.

One of the conclusions of global experts do is that perhaps this year the trend of reduction in income tax rates in the world is coming to an end. Thus, the average personal tax burden this year is 28.9 percent to 29.2 percent in the past. The highest taxes are still paying citizens of the countries – EU members, Denmark as the leader is at a rate of 62.3%. Some of the new members of the union still does not reduce the burden to stimulate business and to meet the global crisis. Among them is Poland (down from 40 to 32 percent), Latvia (from 25 to 23 percent) and Lithuania (from 24 to 15 percent).

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Finance