site.btaParliament Passes on First Reading Government-Proposed Revisions to Corporate Income Tax Act

Bulgaria's Parliament voted on Wednesday, 159-0, to pass on first reading amendments to the Corporate Income Tax Act moved by the Council of Ministers.

The bill proposes the introduction of a new regional aid scheme continuing the promotion of investments in municipalities where the unemployment rate is 25% or over 25% or above the national average and for subsidized employment in order to reduce unemployment in such municipalities.

The amendments provide for establishing a procedure and manner for the implementation of Council Regulation (EU) 2022/1854 of 6 October 2022 on an emergency intervention to address high energy prices. The provisions lay down rules on the temporary solidarity contribution for Union companies and permanent establishments with activities in the crude petroleum, natural gas, coal and refinery sectors on the surplus profits they generate.