Bulgaria's Flat Tax

Posted By: Dr. Frugal in Taxes on 11/28/2007 at 06:56:57

While I'm on the subject of flat taxes, most of the EU has them. They've reported all these great results, which include significant foreign investment. Bulgaria has just signed on as the newest flat taxer and no one seems to be too happy about it. Maybe they're unfamiliar with the phrase "different strokes for different folks". If they were, they would realize what a bad idea it is for them and their already-underachieving economy. This might be the first official EU armor chink. We'll see.

Comments

Posted by IPI Haskovo at September 5, 2008, 1:44 am:

Well, time has pased and You have to admit now, that the choice of the Bulgarian government to adopt the flat tax, wasn't that bad at all! Higher tax levy, an increased base of income subject to tax and most important: less incentive for individuals to hide income is the result. What is even more important, the lower tax rate brought income out of the underground economy.


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