Business | October 9, 2001, Tuesday // 00:00

The government abandoned its plans to introduce a zero tax rating for reinvested profit, PARI Daily wrote. During the weekend, after consulting with different ministries, the Cabinet removed this measure from its program for economic policy. The International Monetary Fund demanded the document that clearly explains the economic policy of the current Bulgarian Government. `There are certain amendments in the positions of the government in direction to some of the fund`s recommendations, `Finance Minister Velchev confirmed. According to Pari Daily, most probably the cabinet will accept the economic program version agreed with the IMF and the previous government. According to it, profit tax has to fall 5% for the big companies next year and thus reach a level equal to that for the small companies. Calculations show that the budget will lose nearly BGN 600 M from this measure.

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