Officials in Bulgaria and the United States are to recommence work on a double taxation treaty between the two countries. This follows a meeting in Washington between Bulgarian Finance Minister Milen Veltchev and Randal Quarles, Assistant Secretary of the US Treasury, earlier this week.
“In the last ten years the negotiation process was suspended and renewed several times,” says Miroslave Velikov, head of custody at HVB Bank Biochim in Bulgria. “This new approach was expected and demanded from foreign investors and is widely appreciated.”