Bulgaria Consulting on Legislation to Extend Manufacturing Incentives for High Unemployment Municipalities

Bulgaria's Ministry of Finance has begun a consultation on draft legislation for amendments to the Corporate Income Tax Act. One of the main amendments would provide for an extension of the tax incentives for manufacturing in municipalities with high unemployment rates.

Subject to certain conditions, the incentives include a 100% corporate income tax deduction where corporate tax otherwise payable is reinvested and/or used for the hiring of new employees. Currently scheduled to expire at th…