The European Commission will take the necessary measures to ensure compliance of Greece's tax legislation amendments with EU law, a spokesman for the EU Commission has said.

Brussels will act if it considers it necessary "after an assessment is made" of Greece's changes and Bulgaria's complaint, Annika Breidthardt, a European Commission Spokesperson for Jobs, Growth, Investment, EMU and the European Semester, is quoted by the Bulgarian National Radio as saying.

Breidthardt has refused to comment on whether any compensations will be provided by Brussels over potential losses for the country.

Estimates announced Tuesday showed a tax on transactions originating from sources in Bulgaria, Cyprus, Ireland introduced by Athens might result in losses of up to EUR 800 M for Bulgaria's economy.

Greece approved the 26% tax at a time when the treasury is seeking to increase revenues as the country is struggling to deliver on payments to international lenders. All the countries concerned enjoy low corporate tax rates, with Bulgaria's ten-percent levy being among the lowest in Europe.

Bulgarian Finance Minister Vladislav Goranov last week sent a letter to the EU Commissioner for Economic and Financial Affairs Pierre Moscovici.

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