Government mulls tax exemption for largescale investors in Bulgaria.
Bulgaria mulls amendments to the law regulating foreign investments in the country, according to which largescale investors will be exempt from paying social security contributions for their employees for a period of three years, Monitor daily reported, citing economy minister Delyan Dobrev. To be eligible to take advantage of the preferential conditions, the foreign company should have over EUR 10mn in investments in the country, be in the high technology industry or make investments in a region with high unemployment. Bulgaria is already an attractive place for foreign investors due to its low taxes (corporate tax at 10%, VAT at 20%).
Source: IntelliNews - Bulgaria Daily, July 5, 2012