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Tax evaluation of Bulgarian properties shall be raised
Last update: 2008-10-24 03:29:22
The National Council for Trilateral collaboration proposed new amendments in the Local Taxes and Fees Act. The new texts foresee a 5 % discount if the whole property tax is paid between March 1st and April 30th, 2009.
A raise of the tax evaluation of properties is expected because of the increase of real estates' market prices. The coefficient for location of property will be corrected with 50%, because it influences most over the tax evaluation. For compensation local taxes paid when acquiring a property in Bulgaria could be lowered.
The induction of effective inheritance tax is foreseen to happen next year. The inheritance share not subject of taxation shall be lowered to 70 000 BGN. This does not concern spouses, children or any other relative next of kin (as present their inheritance will not be a subject of taxation).
Also tax free incomes shall be incomes from deals with shares of public companies accomplished on the regulated market of securities in all EU member-states.
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