site.btaTax Code Changes Pass on First Reading

Tax Code Changes Pass on First Reading

Sofia, October 19 (BTA) - The Bulgarian Parliament Wednesday adopted on first reading amendments to the country's tax code that would raise the excise duty on cigarettes and lower the cap on cashless payments to 5,000 from 10,000 leva, among other proposed changes.

With 88 to 24 votes, the MPs approved on first reading amendments to the Excise Duties and Tax Warehouses Act which bring with them changes to another six pieces of legislation - the VAT Act, the Corporate Taxation Act, the Personal Income Tax Act, the Local Taxes and Fees Act, the Accounting Act and the Limitation of Cash Payments Act.