Bulgaria Accelerating Depreciation to Stimulate Economic Growth and Industrial Production

Bulgaria's National Assembly (parliament) is considering a Draft Law on Amendments and Supplements to the Corporate Income Taxation Act, which is meant to stimulate economic growth and industrial production by encouraging businesses to reinvest their profits into machinery and production equipment. In particular, the draft law provides for a phased increase in depreciation rates for specific asset categories over several years, ultimately leading to a 100% rate (full current-year deduction) …