On 13 October 2015, the Bulgarian Council of Ministers approved and submitted the tax reform legislation for 2016 to the National Assembly. The main measures include: Implementation of the amendment to EU Parent-Subsidiary Directive that denies the participation exemption if a distribution received is tax deductible for the distributing subsidiary or otherwise reduces the tax base of the subsidiary; The introduction of regional State aid rules in line with the EU guidelines, including that regional tax relief will only be granted with advance approval from the tax authorities, and limiting State aid for certain sectors, including agricultural, energy and transport...