Bulgaria Cuts Deposit Interest Tax by 2 Pct Pts

Bulgaria Cuts Deposit Interest Tax by 2 Pct Pts

Bulgaria's Parliament passed amendments cutting the tax on interest earned from bank deposits from 10.0% to 8.0% as of next year, the Bulgarian National Television reported.
The Socialist-backed cabinet of Plamen Oresharski plans to further cut the tax rate by 2.0 percentage points annually until scrapping it altogether.
Bulgaria introduced a flat tax of 10% on interest earnings from bank deposits on January 1. Subject to the tax are deposit accounts in Bulgarian commercial banks and the branches of foreign lenders established in EU member states and non-EU countries part on the European economic area agreement.

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