BG version As of 01.01.2024 there is a change in the scope of income that needs to be part of the report under Art. 73, para. 6 of the Personal Income Tax Act (PITA). With this report employers are obliged to declare the taxable income [...]
As from 1st of January 2016, there are changes which have been officially announced and implemented in the Bulgarian labour and insurance legislation. Driven by our constant desire to always keep you updated with all the statutory changes in Bulgaria that concern you and can directly influence your operations, we [...]
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 [...]
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 [...]
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 [...]
