November 25, 2007 8:55PM # Bulgaria Takes Big Step to Flat Tax By [Daniel J. Mitchell](https://www.cato.org/people/daniel-mitchell) --- SHARE In the first test vote, the 10 percent flat tax was approved in Bulgaria by an overwhelming margin. If the Bulgarian experience matches what happened in other nations, the low-rate flat tax will be adopted, the economy will grow faster, and the government will collect more revenue. But just to show that there are some things that remain constant, the bureaucrats at the International Monetary Fund will continue to urge countries not to adopt this simple and fair tax system. The *Sofia Echo* [reports](http://www.sofiaecho.com/article/flat-tax-on-personal-income-approved-on-first-reading/id_26333/catid_66): > Parliament approved on November 23, in first reading, amendments to the Income Tax for Natural Persons Act, which will introduce a 10 per cent flat tax rate starting from January 2008. The amendments were supported with 152 against 36 votes, with four abstentions, Bulgarian news agency (BTA) said. The flat tax rate will replace the current progressive tax system. ##### Related Tags [General](https://www.cato.org/general), [Tax and Budget Policy](https://www.cato.org/tax-budget-policy) [![Creative Commons License](/build/cato_2020/images/creative-commons.svg)](http://creativecommons.org/licenses/by-nc-sa/4.0/) This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](https://creativecommons.org/licenses/by-nc-sa/4.0/).