Parliament Approves 10% Deposit Interest Tax

Parliament Approves 10% Deposit Interest Tax

Bulgaria's parliament approved in principle on Thursday the introduction of 10% tax on bank deposit interest, effective as of the beginning of next year.

 The government-sponsored amendments passed with 86 MPs voting in favour, 29 against and two abstaining, the state-run Bulgarian News Agency (BTA) reported on Thursday.

 The 10% tax will be imposed on interest on deposits in commercial banks and branches of foreign banks based in an EU member state or in countries of the European Economic Area.

It, however, will not apply for call deposits, including child deposits, BTA cited deputy finance minister Vladislav Goranov as saying.

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