Bulgaria has greeted a pledge from Greece to revoke its tax withheld on Greek business transactions in Bulgaria. Prior this year, Bulgaria had requested that the European Commission challenge Greece’s decision to announce a 26% withholding tax on transactions in Bulgaria, Cyprus, and Ireland because of their low corporate tax rates. Again, Greece changes its law to link it with the EU law. The Commission had settled that the levy broke EU law objectives on the free movement and provision of goods and services.
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