Taxable base can be reduced with up to 65% through donations, if certain conditions are met. Because the incomes of individuals in Bulgaria are taxed with a flat rate of 10%, the due tax can be decreased with up to 65% as well in a case of a donation.
With this regard the National Revenue Agency and the Bulgarian Donative Forum have organized together a joint campaign for donations… Continue reading »
The flat tax had a positive influence for the budget and this is an important result. The low tax rates are mostly criticized, because they don`t insure enough incomes to the budget and they “take the blood” out of the government and the social system. In this case it is absolutely the opposite. The low flat tax rate of 10% has secured more tax incomes exactly in the years of… Continue reading »
In two consecutive years, a flat tax of 10% was introduced in Bulgaria. First in 2007 -10% tax on corporate incomes and in 2008 – 10% tax on incomes of individuals. The flat rate can be defined as a positive reform for Bulgaria. In the countries with flat tax rate the economy and the incomes grow significantly faster. The flat tax rate on incomes increases the economic activity, opens new… Continue reading »
Obligations of an Employer According to the Bulgarian Insurance and Tax Legislation When Sending a Hired Person On a Business Trip From a EU Member State to Bulgaria
The questions cаme from an organization, which is a part of an international concern, established from companies which are separate legal entities. For the purpose of exporting the German production in Bulgaria, an Italian citizen with a form A1 has been sent to the Bulgarian company, who has an active labor contract with one of the concern companies in Germany. Your company signed a tripartite contract with the
The European Bank for Recovery and Development Increased Its Positive Expectations For Economic Growth in Bulgaria to 1.9%
The European Bank for Recovery and Development (EBRD) expects an increase of the GDP rate with 1.9%. During the previous year the institution was expecting the growth to reach 1.7%.
The financial institution emphasizes that the fiscal position of the country remains stable with low deficit. It is also pointed that because of the successful emission of Eurobonds, which were issued last year, Bulgaria has significant fiscal and monetary buffers… Continue reading »