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Bulgaria, Germany Sign Revised DTA

by Ulrika Lomas, Tax-News.com, Brussels

27 January 2010

Germany and Bulgaria have signed a revised double taxation agreement (DTA) between the two countries, containing a provision to exchange financial information and designed to benefit investors in Bulgaria.

The DTA, which repeals the existing agreement from 1987 and reflects fiscal changes in Bulgarian law, was signed in Germany on January 25 by Rosen Zhelyazkov, Secretary General of the Bulgarian Council of Ministers, and by Peter Ammon, State Secretary of the German Foreign Ministry.

The bilateral agreement is due to enter into force following ratification by the Bulgarian National Assembly and the German parliament, and the subsequent exchange of ratification letters.

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