February 28 2022

Bulgaria Amends Taxation of Private Use of Business Assets

Source: IBFD Tax Research Platform News

The Bulgarian parliament has approved at second and final reading the amendment to the Corporate Income Tax (CIT) Act which provides that the tax on expenses related to personal use of business assets will be decreased from 10% to 3% as of 1 January 2023.

As a next step, the President should issue a decree for promulgation of the amendment in the State Gazette.

The full text of the amendment, issued on 22 February 2022, is available here (in Bulgarian only).