How does Bulgaria's dividend tax compare with Germany and Austria?

Bulgaria levies a final withholding tax of just 5% on dividends — under Art. 38 of the Personal Income Tax Act for individuals and Art. 194 in conjunction with Art. 200 of the Corporate Income Tax Act for foreign legal entities. The distributing company withholds and remits the tax; the National Revenue Agency (NRA) administers it. By comparison, Germany charges a 25% tax on capital income plus the solidarity surcharge, while Austria applies 27.5% to dividends. Details and links in our guide.