AmCham Bulgaria Opposes Proposed Tax on Mineral Industry in Draft 2025 Budget
The American Chamber of Commerce in Bulgaria (AmCham Bulgaria) has expressed strong opposition to a proposed tax on the country's mineral industry included in the draft State Budget for 2025. In a statement addressed to key government leaders, AmCham criticized the proposed "mineral extraction tax" as discriminatory and harmful to Bulgaria's economic and investment climate, CE Report quotes BTA
AmCham argued that the tax would result in double taxation for businesses operating within the EU and create disproportionate treatment of economic entities. The chamber emphasized the lack of institutional dialogue and thorough risk analysis regarding the proposal, warning of its potential to harm Bulgaria's economy, investment environment, and reputation.
The organization also noted that the tax could apply to entities holding mining concessions even before operations begin, further compounding risks. "Unpredictable tax changes, especially without stakeholder consultation, undermine investment confidence and may push capital to more favorable markets," AmCham stated.
The group has called for an urgent meeting with government officials to discuss the proposal and its implications, urging a reconsideration of the tax to safeguard Bulgaria's economic competitiveness.
