Business In Bulgaria Pays Sixth Lowest Taxes In Europe - Survey

Photo: BGNES

Bulgaria has the sixth lowest overall taxes for medium-size companies in EU and the European Free Trade Association (EFTA), shows the Paying Taxes 2015 survey of PriceWaterhouseCoopers among 189 economies worldwide.

The total tax rate in Bulgaria is 27%, which ranks it sixth after Croatia (18.8%), Luxembourg (20.2%), Cyprus (23.2%), Ireland (25.9%) and Denmark (26%).

In necessary time to comply (in hours), however, Bulgaria ranks last among the EU and EFTA countries with 454 hours of total tax time.

In the number of payments category, Bulgaria ranks 22-nd among the same countries, with 13 payments.

Overall, Bulgaria ranks 89-th among the 189 countries with 5% of total profit tax rate, 20% labour tax total tax rate and 1.8% other taxes.

The Paying Taxes survey records the taxes and mandatory contributions that a medium-size company must pay in a given year as well as measuring the administrative burden of paying taxes and contributions.

Taxes and contributions measured include corporate income and other profit taxes, social contributions and labour taxes paid by the employer, property taxes, property transfer taxes, dividend tax, capital gains tax, financial transactions tax, waste collection taxes, vehicle and road taxes, and any other small taxes or fees.

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