Business | September 12, 2001, Wednesday // 00:00

The International Monetary Fund`s /IMF/ mission insisted on a smaller VAT reduction during the negotiations on the Bulgarian macroeconomic framework for 2001 between representatives of the fund and the government. The fund did not approve the financial ministry proposal to reduce the highest rate of the gross income tax by 9% and suggested a reduction by 7%. The IMF proposed a 1.5% decrease for the remaining rates of the gross income tax, rather than the 2% suggested by the government. The new Chief of the IMF mission to Bulgaria, Jerald Schiff, arrives in Bulgaria on September 14.

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