Update - Bulgaria Publishes Law for Windfall Tax on Fossil Fuel Sector

Bulgaria has published the Law on Amendments and Supplements to the Law on Corporate Income Tax, which was approved by the National Assembly on 6 December 2022. As previously reported, the law provides for the introduction of a temporary solidarity contribution on the excess profits of companies in the crude oil, natural gas, coal, and oil refining industries at a rate of 33% in accordance with Council Regulation (EU) 2022/1854 on an emergency intervention to address high energy prices.

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