Eligible residents of Romania, UK and Norway can benefit from Double Taxation Treaties’ rates following a procedure set out in the Bulgarian Tax-Insurance Procedure Code.
The Bulgarian Parliament ratified the new Double Taxation Treaty (DTT) signed on 22 July 2014 between Bulgaria and Norway. It will replace the currently effective DDT dated from 1988.
Another new Double Taxation Treaty, between Bulgaria and Romania, has been approved and is pending ratification by the Parliament, replacing the currently effective DDT dated from 1994.
And a third new Double Taxation Treaty, between Bulgaria and The United Kingdom, has been approved and is pending ratification by the Parliament. The new DTT will replace the currently effective DDT dated from 1987.
All new Treaties are aligned with the new economic and legal environment and contribute to bilateral trade and economic cooperation between the countries by providing opportunities for tax relief to the residents of the signing countries. Further details will be available upon ratification of the Treaties by both countries and promulgation of the full treaty texts in the State Gazette.
Contact:
Kristina Spasova
Relationship Manger
Global Securities Services Bulgaria
kristina.spasova@unicreditgroup.bg