site.btaBulgaria Is Satisfied with Revocation of Greece's 26% Tax on Deals, Transactions - Finance Ministry

Bulgaria Is Satisfied with Revocation of Greece's 26% Tax on Deals, Transactions - Finance Ministry

Sofia, August 17 (BTA) - Bulgaria is satisfied with the
revocation of Greece's 26 per cent tax on deals and
transactions, the Finance Ministry said in a Monday press
release.
    
On August 3 the European Commission announced its opinion in
favour of Bulgaria on the matter of Bulgaria's complaint under
Article 259 of the Treaty on the Functioning of the European
Union (TFEU) against Greece. The motivated opinion was sent to
both parties in the dispute.
   
The opinion of the EC is that by introducing restrictions for
acknowledging some cross-border costs as cost for tax purposes,
Greece has failed to meet its obligations under Article 34 (free
 movement of goods) and Article 56 (free provision of services)
of the Treaty on the Functioning of the European Union (TFEU).
   
Following the reception of the Commission's motivated opinion,
Bulgaria could have referred the case to the Court of Justice of
 the European Union if Greece does not revoke the provisions of
Article 21 of Law 4321/2015, providing the tax at the source as
incompatible with EU law. Nevertheless, it did not do so because
 the Greek side has declared its intention to do so.  At the end
 of last week, the Greek Parliament passed a law ratifying the
third bailout package, which also includes revoking the
provisions of Article 21, the press release specified.