On 7 October 2008, the Ministry of Finance announced draft amendments to the Corporate Income Tax Law. If approved by the parliament, they would enter into force as of 1 January 2009. The most important proposed changes are summarized below. Capital gains exemption Currently, capital gains on quoted shares realized on the Bulgarian Stock Exchange are exempt, while corresponding losses are not deductible. The exemption also applies to such capital gains realized by non-residents. The amendment would broaden the scope of the exemption (and the corresponding non-deduction) to transactions effected through the stock exchange of any EEA Member State by...