20.10.2012

Taxation of deposit interest earnings will be organized in such a way so as not to cause bank secret disclosure. Deputy Minister Vladislav Goranov says this in an interview for Tema magazine. "It is not rationally logical for a person to lose 100% of their income just because they do not want to pay 10% of it in the form of a state tax". Mr. Goranov comments that the alternatives for secure investment are relatively few and the introduction of such a tax will not force people to draw their money from the banks. The Deputy Minister also adds that one of the macroeconomic effects will be to limit savings and encourage consumption, which is a positive trend for our economy. "We are going towards an expansion of the flat rate taxation base". The tax is flat when it has a maximum wide base, Mr. Goranov adds.