Bulgarian PM rules out plans for scrapping the flat 10% tax.

By bne IntelliNews October 16, 2012
Bulgarian prime minister Boiko Borisov said the personal and corporate income tax will stay at 10% rebuffing an earlier statement by the finance minister Simeon Djankov hinting that the flat tax may be removed, Mediapool.bg portal reported. In order to boost the budget revenue as it seeks to keep the budget deficit at 1.3% of the GDP next year, the government decided last week to introduce a 10% tax on interest earned on households deposits. The move is expected to raise BGN 120mn in extra budget revenue. In an interview with Darik radio, Djankov said the government plans to impose also taxes on gambling and stock exchange profits.

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