On 25 November 2015, the Bulgarian National Assembly (parliament) adopted the tax reform legislation for 2016. The main measures include:
- Implementation of the amendment to EU Parent-Subsidiary Directive that denies the participation exemption if a distribution received is tax deductible for the distributing subsidiary or otherwise reduces the tax base of the subsidiary;
- The introduction of regional State aid rules in line with the EU guidelines, including that regional tax relief will only …