Bulgarias Cabinet was working on a decrease in corporate taxation, Houston Chronicle reported.
The expected decrease would be three per cent to take corporate taxation down to 12 per cent in 2007, Finance Minister Plamen Oresharski said on August 22.
Houston Chronicle reported that Oresharski refrained from presenting the reasons behind the decision. Previous tax cuts tried to improve the business environment and in turn attract more foreign investment, the publication said.
The final decision on tax cuts was going to be given in October, Oresharski said. Current corporate taxation was 15 per cent, Houston Chronicle reported.
The article also described some of the developments presented one year after Oresharskis team started its term in office. The economic growth rate for 2006 was expected to reach 5.5 per cent while inflation was going to remain below 6.6 per cent, Oresharski said.
