US investors to pay lower taxes
06 June 2008
The US companies and individuals investing in Bulgaria will pay lower taxes for doing business in the country, Standard reports. The tax reduction is included in the agreement between Bulgaria and the US for avoiding dual taxation.
The dual taxation avoiding agreement provides a five-percent tax on the interests and the royalties paid by Bulgarian firms to US companies.
Bulgarian companies will pay the same five-percent dividend tax to US shareholders.
Bulgarian firms participating in US pension funds investing in Bulgaria, will also take advantage of the new tax relief measures since the interests and the dividends paid to those US pension funds will be tax exempt.