On 30 December 2022, Bulgaria introduced a law regarding windfall tax on electricity companies. The windfall tax applies the period from 1 December 2022 to 30 June 2024 with an installed capacity of more than 1 MWh in accordance with Council Regulation (EU) 2022/1854 on an emergency intervention to address high energy prices. A 90% tax is applicable on the difference between the market revenue per MWh and the prescribed revenue ceiling for the relevant type of producer.
«
Previous post
Uzbekistan: Tax Changes for 2023
Uzbekistan: Tax Changes for 2023
Next post
Algeria releases finance law 2023
Algeria releases finance law 2023
»
Related Posts
Bulgaria to sign CARF MCAA for crypto-asset reporting
November 18, 2024
The Council of Ministers of Bulgaria has approved the signing of the Multilateral Competent Authority Agreement for the Automatic Exchange of Information under the Crypto-Asset Reporting Framework (CARF MCAA) on Wednesday, 13 November 2024. The
Read More
Iraq to negotiate income and capital tax treaty with Bulgaria
October 10, 2024
The Iraqi Council of Ministers approved the negotiation and signing of an income and capital tax treaty with Bulgaria on 1 October 2024. The council has authorised the Director General of the General Commission for Taxes to initiate discussions
Read More
Bulgaria consults proposed tax amendments to align with EU laws, enhance VAT administration
September 23, 2024
The Bulgarian Ministry of Finance released proposals for amendments to the various tax legislations for public consultation on 18 September 2024. The proposed changes aim to align with European Union (EU) laws and enhance the administration of VAT
Read More Bulgaria: Cabinet approves intent to sign STTR MLI
September 17, 2024
Bulgaria’s Council of Ministers approved a letter of intent to join the Multilateral Convention for Implementing the Pillar Two Subject to Tax Rule (STTR MLI) on 11 September 2024. The signing ceremony for the STTR MLI is set to take place on
Read More
OECD reports advances on harmful tax practices in Armenia, Bulgaria, Croatia, Eswatini, and Hong Kong
August 29, 2024
The OECD released an announcement on 27 August 2024 highlighting that jurisdictions have made further progress in addressing harmful tax practices through the implementation of the international standard under BEPS Action 5. This is evidenced by
Read More Bulgaria adopts euro as national currency
August 22, 2024
Bulgaria published the law for the introduction of the euro in the Official Gazette, on 20 August 2024, paving the way for Bulgaria to shift away from using Lev, in line with EU regulations. The purpose of the law is to supplement and facilitate
Read More