August 14 2019
Amendments to Corporate Income Tax Act – gazetted
On 13 August 2019, amendments to the Corporate Income Tax Act (CITA) were published in State Gazette. The main amendments are that the controlled foreign company (CFC) rules, introduced in Bulgaria as of 1 January 2019, will not be applicable to:
- taxable persons subject to alternative taxes (i.e. different from corporate income tax) under part V of the CITA; and
- CFCs that are subject to an alternative form of taxation in the countries of which they are tax residents.