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News.bg (unspecified author), (September 29, 2003), The government lowers taxes on profit to 19.5%. Budget accepted., News BG, http://news.bg/article.php?cid=7&pid=0&aid=132201 Abstract: Prime minister Sakskoburggotski announced that the planned tax rate of 22% on business profits will be reduced to 19.5%. The parliament decided in favor of this measure because of the low international interest rates, which will allow Bulgaria to make smaller payment than expected. The government hopes that reducing the tax rates will increase Bulgaria’s GDP. From an economic perspective, the two most important aspects of the tax are the availability of money to finance it, and the choice to use the money for this specific purpose. The article mentions that the government doesn’t have to spend as much on the foreign debt as initially planned because of the decreasing exchange rate of the dollar.
Approximate Word count = 501
Approximate Pages = 2
(250 words per page double spaced)
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