Bulgaria, like any other Member State without an “opt out” clause, is expected to adopt the euro at some point in the future. As you know, the road to euro adoption is well defined and the requirements are laid out in the Treaty and the Protocol on the convergence criteria.
The statutory tax rates on both labour and capital are high; the corporate income tax rate is only lower than that in Germany, where the Government recently announced a cut of 9 percentage points. An excessive level of taxation and the variability and complexity of tax rules discourage investment in physical and human capital and raise the cost of compliance.