On 17 march 2023, the Ministry of Finance has released a proposal to impose a temporary solidarity contribution across all industries, which is now open for public discussion. Bulgaria has already implemented a solidarity contribution on the fossil fuel sector, which involves 33% tax on profits above a certain threshold. The new contribution will be applicable to all entities that are liable to pay corporate income tax, including those subjects to an alternative taxation system.
Related Posts
Bulgaria, Malta sign new tax treaty
Bulgarian Deputy Prime Minister and Minister of Finance, Lyudmila Petkova, signed an agreement in Brussels with Malta to avoid double taxation between the two countries on 10 December 2024. The Agreement was signed on the Maltese side by Clyde
Read MoreBulgaria: Ministry of Finance releases draft state budget bill for 2025
The Bulgarian Ministry of Finance released a draft bill for the 2025 state budget on 9 December 2024 which includes several key proposals affecting tax policies, resource extraction, and VAT registration. One of the primary provisions in the bill
Read MoreBulgaria: Ministry of Finance announces 2025 State Budget draft
Bulgaria's Ministry of Finance has issued an announcement on the draft law for the 2025 State Budget on 4 December 2024, which will be submitted to the National Assembly. "An analysis of revenues and expenditures for the next calendar year
Read MoreBulgaria: Parliament considers corporate tax amendments to implement GloBE rules, extend certain tax exemptions
Bulgaria’s Council of Ministers has submitted a proposal to parliament for amendments to the Corporate Income Tax Act, focusing on refining Global Anti-Base Erosion (GloBE) rules and extending regional tax relief measures on 2 December
Read MoreBulgaria: National Assembly reviews VAT Act amendments to align with EU small business scheme
Bulgaria's National Assembly is reviewing a draft bill, presented on 2 December 2024, to amend the Value Added Tax (VAT) Act to implement the EU small business scheme for cross-border supplies. The draft bill is under parliamentary review and
Read MoreBulgaria to sign CARF MCAA for crypto-asset reporting
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