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Easy to do Business in Bulgaria for Pakistani investors

The Council of Ministers of Bulgaria has approved a Convention for avoidance of double taxation between Bulgaria and Islamic Republic of Pakistan

The Conventions of avoidance of double taxation concerns investor’s incomes made in territories subject of local or foreign taxation, and taxes on income from own citizens abroad. Since the double taxation affects the efficiency and competitiveness of exports of goods and foreign investment, the provision of tax relief is a necessity in order to ensure economic developments of relations at the international level.

Bulgaria has 69 international treaties to provide tax reliefs or reduce tax rates for foreign investors in the local economy. Lately the Bulgarian Government has approved a Convention for avoidance of double taxation between Bulgaria and the Islamic Republic of Pakistan. This is a new step at the interstate relations among the two countries. The aim is to be stimulated the bilateral economic cooperation and to be increased the trade flow among them. According to the Bulgarian Government this act shall increase the business relations and shall facilitate better conditions for Pakistani investors in the Bulgarian economy, offering real tax reliefs for individuals and enterprises. 

Source: The Bulgarian Government press center