This week, the Council of Ministers approved the draft law on the state budget for 2020. It was announced by Finance Minister Vladislav Goranov as realistic, balanced and without surprises. Indeed, “without surprises” is an accurate definition – Budget 2020 carries the spirit of the same policy as in the preparation of the previous ones. But, fortunately, for …

Last week, the Confederation of Bulgarian Trade Unions (CITUB) announced a proposal for restructuring the tax system in Bulgaria, which includes 9 measures for “fairer” taxation. Of course, coming from their side, “fairness” means an increase in the tax burden. The unions are proposing a number of reforms to the system, most of which are the introduction of new and increases in old taxes – …

(This article is a summary of the ECT proposal to abolish corporate tax on retained earnings in Bulgaria and the analysis of the potential effects of such a reform. The full text of the report on the topic can be read here.) In recent years, the debate on corporate tax, its optimal level and the resulting …

Author: Stefan Stoyanov It is widely believed that Bulgaria has the lowest taxes in the European Union. This perception is formed by comparing the rates, especially of Corporate Tax and Income Tax, with the corresponding rates in countries such as Germany or Denmark. But neither of these countries are representative of the entire European Union, …