Unakitan: We will not cut taxes in every sector
Güncelleme Tarihi:
Turkish Finance Minister Kemal Unakitan said on Thursday that taxes would not be reduced across every sector. "We will not reduce taxes in all sectors as we did in the textile sector," said Unakitan. Unakitan participated in a meeting of the Ankara Chamber of Industry with his visiting Bulgarian counterpart Plamen Oresharski. Unakitan also noted, "It would be out of question for his administration to bring down taxes in all commercial sectors."
"Bulgaria has a value added tax rate of 20 percent on all products, including bread and water. Yet their tourism sector is booming. We are working on what we can do to promote Turkish tourism," noted Unakitan.
Bulgarian Finance Minister Plamen Oresharski indicated that in 1998 income taxes in Bulgaria had a rate of 37%. "Income taxes are currently at 15 percent. Bulgaria has the lowest tax rate in the European Union along with Romania," noted Oresharski.
Oresharski commented that in 2005 Bulgaria attracted foreign investments worth 2 billion 200 million Euro. "We have privatized all the big establishments. What remains to be privatized are small and medium scale businesses. We have privatized the tourism sector completely and almost privatized all of the industry in Bulgaria," stressed Oresharski.
Oresharski expressed that there are still many opportunities left for Turkish investors in Bulgaria. "Those businessmen who invest in Bulgaria now will reap the benefits soon," added Oresharski.