The Finance Ministry of Bulgaria has revised its plans to set corporate profit tax at 15% starting from 2005 and is now considering a rate of 20%. The current tax rate amounts to 23.5% and is due to decrease to 22% next year.
The budget 2004 foresees a deficit of 0.7% of GDP or BGN 284.2 m on BGN 14.512 bn revenues and BGN 14.719 bn expenditures
Source: Bluebull
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