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Tax Rates Inch Up In EU27 5/25/2012 In its 2012 edition of the publication 'Taxation trends in the European
Union', Eurostat, the statistical office of the European Union, highlights
the observed increase in value-added tax rates, corporate tax rates and top personal
income tax rates in 2012, among the twenty-seven European Union member states.
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FTT Will Hit UK Revenues Even With Opt Out 2/8/2012 David Cameron's refusal to sign a new European Union deal will not shield the UK from the impact of a financial transaction tax, Ernst and Young has said.
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EU Tax Burdens Stabilize 1/17/2012 Following three years of decline, European Union nations' tax-to-GDP ratios remained broadly level in 2010, the latest year for which detailed tax revenue statistics are available for all member states, as governments begin to consolidate their fiscal positions. In the euro area the downward trend in tax revenues continued, but decelerated in 2010, with a slight drop to 40.2% of GDP.
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Bulgaria To Cut VAT In 2013 12/29/2011 The Bulgarian government has announced that it will deliver on the pledge it made
when entering into office in 2009 and begin to reduce the nation's value-added
tax towards 16% by 2015, in all probability by 1% in 2013.
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Bulgarian Parliament Adopts 'Tight' 2012 Budget 12/16/2011 Following a lengthy debate, Bulgarian lawmakers have finally adopted the country’s
2012 budget bill, designed to reduce the deficit, to minimize the effect
of the ongoing eurozone sovereign-debt crisis on the economy, and to guarantee
debt repayments in 2013.
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Bulgaria Unites On 2012 Draft Budget 11/4/2011 The Bulgarian government has recently approved during an extraordinary meeting
the country’s 2012 budget bill, designed to reduce the deficit, to minimize
the effect of the drawn-out eurozone sovereign-debt crisis on the economy, and
to guarantee debt repayments in early 2013.
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Lukoil Bulgaria Rejects Tax Violation 9/2/2011 The Chief Executive Officer of Lukoil Bulgaria, Valentin Zlatev has dismissed
criticism of its tax affairs by the Bulgarian tax authority, stating that it has
not infringed the country's tax regulations.
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Lukoil Unofficially Wins Bulgarian Tax Spat 8/22/2011 Bulgarian tax authorities have admitted that they will not be able to enforce
sanctions on the country's only domestic energy producer, Russian-owned Lukoil,
for failing to introduce metering in their operations as part of measures to prevent
tax evasion.
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Bulgarian Tax Man Pursues Luxury Yacht Owners 8/18/2011 Bulgarian tax officials are to inspect the tax affairs of owners of expensive
yachts berthed in Black Sea ports.
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Poland Regrets Passing Bank Data To Belarus 8/17/2011 The Polish government has apologized after passing information on human rights protesters' bank accounts to the Belarus authorities, including data relating to prominent campaigner,
Alex Byalyatski, now charged with tax evasion.
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Bulgaria In Tax Dispute With Lukoil 8/4/2011 Bulgarian authorities have recently found themselves between a rock and a hard place
after attempting to enforce sanctions against the country's only domestic energy
producer, Russian-owned Lukoil, in late July suspending its licence and triggering a short-term energy crisis on tax evasion concerns.
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Bulgaria's Low Tax Regime Draws Investment 7/29/2011 Business formations by entities from Romania and Greece have risen markedly in
the last year, new statistics show - a testament to the reforms put in place by Bulgarian
authorities to attract foreign investment.
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Eurostat Notes Rising Consumption Tax 7/7/2011 According to a recent study conducted by Eurostat, the statistical office of the
European Union, the global financial and economic crisis has changed the
fiscal shape of Europe.
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Anti-Corruption Activities Falling Short, Says OECD 4/27/2011 The Organisation for Economic Cooperation and Development has released figures showing that, while there are 38 signatories to its Anti-Bribery Convention, only a remarkably small minority are actively engaging in the sanctioning of individuals and companies.
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European Council Adopts Fiscal Package 4/4/2011 The European Council has recently adopted a comprehensive package of measures,
designed to respond to the crisis, preserve financial stability and boost growth,
while at the same time strengthening economic governance and competitiveness
of both the euro area and the European Union.
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Lamy Urges On Doha Participants 2/7/2011 The World Trade Organization’s Director General, Pascal Lamy, as chairperson
of the Trade Negotiations Committee, urged WTO ambassadors on February 2 to
engage in bilateral and small group discussions on resolving key obstacles to
a near-global multilateral free trade agreement, through the Doha Round.
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Bulgaria's Djankov Hints At Tax Referendum 1/25/2011 In the wake of increased calls for a vote of no confidence in the government,
Bulgaria’s Finance Minister Simeon Djankov announced the preparation of
legislative amendments, designed to ensure that changes to direct taxes imposed
on individuals and corporations would only be implemented following a national
referendum.
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EU Launches Multi-Year Review Of Cross-Border Taxation 12/23/2010 The European Commission has published a Consultation, which marks the commencement of a comprehensive multi-year review of the major cross-border issues faced by EU citizens, and proposes solutions for them.
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China, EU Discuss Untapped Trade Flow Potential 12/22/2010 The EU and China held the second, and final day of their third High Level Economic
and Trade Dialogue on December 21, at what was the first meeting between the two parties
since the entry into force of the Lisbon Treaty.
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Bulgaria Keeps Faith In Low Taxes 11/15/2010 The Bulgarian parliament has approved the government's budget plan for 2011, which keeps the main rates of income tax on hold in the interest of maintaining the country's competitiveness. However, the government has decided not to proceed with a planned increase in taxation on luxury homes.
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Panama Pushes For White List Placement 8/18/2010 Panama’s Deputy Economy Minister, Frank De Lima has said that by the beginning
of 2011 Panama should be placed on the OECD's
white list of territories that have substantially implemented the internationally
agreed standard for transparency and tax information exchange through the signing
of comprehensive Double Tax Agreements.
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Panama To Sign DTA With Luxembourg 7/6/2010 The Panamanian government has finalized negotiations in Luxembourg ahead of the signing of a treaty to avoid double taxation between the two countries, announced deputy economy minister, Frank De Lima, who led the negotiating team for Panama.
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Romania Mulls Bank Tax 6/29/2010 Hot on the heels of France, Germany, the UK and Austria, the Romanian government
is now also considering the possibility of introducing a bank levy in a bid to
support the country’s economy.
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Bulgaria To Avoid VAT Hike 5/26/2010 Determined to consolidate the country’s budget deficit, Bulgaria’s
Finance Minister Simeon Djankov has announced plans to implement a 20% cut in
public spending, rather than raising the 20% value-added tax rate.
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Bulgarian Govt Rejects VAT Rise 5/6/2010 Bulgaria’s government has recently confirmed that it does not plan to
raise value-added tax this year, electing instead to embark on a series
of rapid reforms and extensive savings plans - the more difficult path –
in a determined effort to cut costs and to redress the country’s finances.
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Bulgaria's Djankov Stakes Job On Tax Pledge 5/5/2010 During a recent meeting of the Council for Tripartite Cooperation, Bulgaria’s
Finance Minister Simeon Djankov reportedly issued firm assurances that there would
be no tax rises in Bulgaria in 2010.
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Industry Denounces ANSP Fee Rise 4/22/2010 Despite the industry's call for all air navigation service providers in Eurocontrol
to freeze or reduce rates in 2010, no fewer than 19 states have proposed increases
over 2009 levels, according to recent statistics released by IATA.
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Bulgaria Adopts Anti-Crisis Measures 4/6/2010 It has recently emerged that Bulgaria’s government has approved a series
of anti-crisis measures designed to combat the effects of the economic crisis
on the state budget and the national economy, which include a number of tax
initiatives.
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Qatar And Bulgaria Sign DTA 3/30/2010 A convention for the avoidance of double taxation and fiscal evasion was signed
between Bulgaria and Qatar last week, during an official visit to Qatar by Bulgaria’s
Prime Minister, Boyko Borisov.
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Bulgaria Issues Transfer Pricing Guidelines 3/23/2010 Bulgaria’s National Revenue Agency has published guidelines on transfer pricing documentation, in which it outlined the underlying particulars it would need to assist transfer pricing investigations.
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