People Looking to Minimize Their Income-Tax Bill May Want to Pack Up and Move to Bulgaria, WSJ

Business » FINANCE | February 12, 2015, Thursday // 11:24| Views: | Comments: 0
Bulgaria: People Looking to Minimize Their Income-Tax Bill May Want to Pack Up and Move to Bulgaria, WSJ Printing paper money at a printing press in Perm Photo: wikipedia.org

Bulgaria has ranked second in an AIRINC report on taxation policies across the world, analyzed by the Wall Street Journal.

AIRINC's main activity involves analyzing data regarding cross-border transfers, including cost of living differences, housing costs, hardship allowances, per diems, and hypothetical taxes.

The document is based on tax payment conditions in 125 countries, by analyzing the tax rate paid on any additional income.

Kazakhstan, Bulgaria, Guatemala and Russia score at the top, showing lowest tax rates in the world.

Bulgaria has also improved in terms of economic freedom, as shown by a recent report prepared by the Heritage Foundation

''While there’s no such thing as tax-free living, some places have better tax structures for expats than others—and the tiny Balkan nation is one of them,'' stated a blog post in the US edition.

The worst performers listed included Slovenia, Belgium, Portugal, and even Sweden. However, the latter has been improving its taxation system over the years, while simultaneously maintaining high levels of healthcare and education.

The full article is available here

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