Bulgarian lawmakers from the ruling three-way coalition are expected to rubber stamp on Friday the introduction of the flat tax in the country starting from next year by amending the Taxation Act. In summer, the leaders of the coalition have agreed to scrap the existing progressive taxation system with three income brackets and introduce a flat income tax of 10% starting from 2008.
Depending on how the list is compiled, this will mean 22 flat tax jurisdictions, up from three just 15 years ago. The main country to adopt a flat tax this year (effective on January 1) is the Czech Republic. The top target next year is Poland. By 2050, France may join the club. By 2100, North Korea will be among the final dominoes to fall. Then maybe we can overcome the special-interest opposition in Congress.