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Bulgarian Socialists To Discuss Flat Tax

Politics | June 15, 2007, Friday // 00:00| Views: 2052 | Comments: 0
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Bulgaria: Bulgarian Socialists To Discuss Flat Tax Socialist leader Sergey Stanishev (right) will hope the tax breaks will end the party's slide in opinion polls. Photo by Yuliana Nikolova (Sofia Photo Agency)

Bulgarian socialists will discuss plans to impose a flat tax rate at the party congress that starts on Saturday, the event's agenda shows.

The congress will focus on government strategies for the second half of the current cabinet's term, which expires in the summer of 2009.

The Socialists are the senior partner in the three-way ruling coalition and hold half of the 16 ministerial portfolios.

The party has singled out lowering the individual tax burden as one of its main priorities and will consider two proposals to achieve that goal.

The first option is to lower the tax brackets to 10%, 16% and 24%, respectively. The second is to impose the 10% flat tax for all income above a certain tax-exempt amount.

The congress is also expected to rubber-stamp its approval of the cabinet's intentions to raise salaries of state employees by at least 10% this year.
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