Bulgaria To Impose 10% Deposit Interest Tax as of Jan 1

Bulgaria To Impose 10% Deposit Interest Tax as of Jan 1

Bulgaria's parliament on Thursday introduced a flat tax of 10% on interest earnings from bank deposits.

The new tax, adopted on second and final reading as an amendment to the Value Added Tax Bill, will take effect from the beginning of next year, the parliament said in a statement on its website.

Subject to the new tax will be 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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