The governments of the United States and Bulgaria announced that they plan to begin negotiations on a bilateral income tax treaty, the first such agreement between the two countries.
The initial round of talks is expected to take place in the autumn of 2005.
The US Treasury Department announced that it is inviting written comments from the public regarding the upcoming negotiations.
The Bulgarian authorities revealed that they are planning to cut the country's corporate income tax rate to 12% in the near future, a move which has unsettled governments in both Eastern and Western Europe.
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