Bulgaria’s Flat Tax Stays in Place
Monday, 28 November 2016
Bulgaria's ten-percent flat tax is set to stay after the MPs turned down the socialists' proposal for a progressive tax rate.
The group of the Bulgarian Socialist Party (BSP) proposed a taxation system in which the companies and individuals with the highest incomes will pay the most in taxes, but their proposal was booed and voted down amid heated debates.
The proposal was supported by only nineteen of the MPs present at the sitting, while forty voted against it and 57 abstained.
Critics of BSP proposal for a progressive tax rate on corporate and personal incomes say tax collectability will slump if the flat tax is scrapped.