Sunday, November 30, 2008

Turkey Tax Rates 2008

The income tax rates in Turkey are 15%-35% for individuals , 20% for
companies .
Capital gains for companies and individuals are subject , in general , to
the regular tax rates .For individuals the tax rate for capital gain from
sale of Turkish shares traded on the local stock exchange are tax exempt ,
if held for more than one year.
Losses can be carried forward up to five years. There is no carryback .
Tax withholding payments to non-residents are subject to 15% for dividends ,
10% for interest and 20% for royalties.
Social security rates are 19.5% for employers, 14% for employees .
The standard VAT rate in Turkey is 18% . There are also reduced rates of 8%
and 1%.
Other taxes in Turkey include, inter alia, real estate taxes and gift and inheritance tax.

(source :www.worldwide-tax.com )

Saturday, November 15, 2008

Bulgaria Tax Rates 2008


The income tax rate in Bulgaria, for both companies and individuals is a flat rate of 10%.
One of the lowest in Europe.

Capital gains tax rate for companies is 10%.
For individuals the rate for capital gains from sale of shares and dividend income is 5%.

Losses can be carried forward up to five years, there is no carryback.

Tax withholding for payments to non-residents is 5% for dividends and 10% for interest and royalties.

Social security rates are 20.4% for employers, 13.3% for employees.

The standard VAT rate in Bulgaria is 20%. There is a reduced VAT rate of 7%.

Other taxes include, inter alia, transfer tax and inheritance tax.

(source :www.worldwide-tax.com)