From January 1 2008, income of physical persons in Bulgaria will be taxed at a flat tax rate of 10 per cent, Parliament decided on December 17, when it accepted in second reading changes to the Law on taxation of income for physical persons.
Income from life-insurance contracts after the end of the contracts, would be taxed at 7 per cent, Dnevnik dialy said.
Income taxes on dividend
and liquidation of shares will be five per cent in 2008.
If nothing else this will cause further headaches in Brussels where the rise of tax harmonistaion up the EU's agenda continues in its inexorable fashion.
OK so a Swiss Canton has trumped that with a 1.8% rate - but you would have to live in Obwalden which has a population of 33,755 and is, dare I say it quite quiet.
Now tell me why is it that the idea of a flat tax is so scary in the UK?