Trade unions and employers supported the tax changes

Representatives of trade unions and employers unanimously supported the proposals of the Ministry of Finance on changes in tax legislation. This happened at today’s meeting of the National Tripartite Commission, chaired by Deputy Prime Minister and Finance Minister Simeon Djankov. It is envisaged that Government to approve proposed changes at its regular meeting tomorrow. Social partners supported the main proposal to change the 9% tax for the tourism sector, which will apply from 1 April 2011

Other major proposals that were approved tristrankata affect changes in the Excise Tax Act and Tax Warehouses Act, the taxes on personal income and the Law on Corporate Income Tax (CIT). Envisaged increase in excise duty on smoking tobacco from $ 100 to 152 leva per kilogram and increase the excise duty on fuel.

Among the main proposals for changes in CITA are taxation of foreign entities in offshore tax of 10% of their income from services originating with Bulgaria as a measure to prevent evasion and eliminating rise to abuses. There will also be reduced from 10% to 5% tax on interest income, royalties paid by resident legal entities to foreign legal entities from the EU, where the payer and the recipient of income are related, and if certain conditions under European law.

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Finance

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