site.btaBulgaria, Liechtenstein Negotiate Double Taxation Avoidance Agreement

Bulgaria, Liechtenstein Negotiate Double Taxation Avoidance Agreement
Bulgaria, Liechtenstein Negotiate Double Taxation Avoidance Agreement
Bulgaria’s Finance Minister Assen Vassilev (left) and Liechtenstein’s Prime Minister Daniel Risch confer in Vaduz, February 29, 2024 (Bulgarian Finance Ministry Photo)

Bulgaria’s Finance Minister Assen Vassilev and Liechtenstein’s Prime Minister and Finance Minister Daniel Risch held a working meeting in Vaduz on Thursday, the Bulgarian Finance Ministry’s press centre said. The sides discussed the possible signing of a double taxation avoidance agreement and agreed that the document would contribute to strengthening economic ties between the two countries.

Vassilev insisted that the agreement should include enhanced data exchange between the two tax administrations. "Strong partnerships in Europe are crucial in times of political uncertainty. That is why we want to strengthen relations with Bulgaria and reinforce them with a double taxation avoidance agreement," Risch noted.

The trade turnover between Bulgaria and Liechtenstein has been growing in recent years. In 2021, Liechtenstein exported goods to Bulgaria worth CHF 13 million, a nearly 50% increase compared to 2020. Direct imports of goods from Bulgaria went up by more than 70% and amounted to CHF 8.5 million.

Policy issues on the European agenda and euro area financial matters were also discussed at the bilateral meeting. Vassilev said that Bulgaria is working hard to meet the Maastricht criteria and is expected to join the euro area in 2025. The two finance ministers also discussed the Russian aggression against Ukraine and its social and economic consequences, including in the Black Sea region.

During his one-day working visit at the invitation of Liechtenstein, Vassilev also visited Hoval, a company with a manufacturing base in Bulgaria.

/RY/

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By 07:47 on 23.04.2024 Today`s news

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