Bulgaria Implementing Pillar 2 Side-by-Side Package, Extended Loss Carryforward Limit, 33% Windfall Tax, and Other Tax Changes

Bulgaria's Ministry of Finance has launched a public consultation on the Draft Law on Amendments and Supplements to the Corporate Income Taxation Law. The main measures are summarized as follows:

• The implementation of the Pillar 2 Side-by-Side package (and other technical amendments), including the:
  • Side-by-Side Safe (SbS) Harbor;
  • Ultimate Parent Entity (UPE) Safe Harbor;
  • Simplified Effective Tax Rate (ETR) Safe Harbor;
  • Substance-Based Tax Incentive Safe Harbor; and
  • Extension of the Transi…