Bulgaria's Ministry of Finance has announced the publication of the draft Law on Amendments and Supplements to the Tax and Insurance (Social Security) Procedural Code. One of the key measures is the introduction of a one-off solidarity contribution that will be levied on all sectors. As previously reported, Bulgaria has already introduced a solidarity contribution on the fossil fuel sector that is due at a rate of 33% on excess profits in 2022 and 2023 to the extent exceeding the average taxable profit in 2018, 2019, 2020, and 2021, increased by 20%. The new one-off solidarity contribution for all sectors will be due at the same rate with similar conditions, but only in respect of excess profits earned in the period 1 July to 31 December 2023 to the extent exceeding 50% of the average taxable profit in 2018, 2019, 2020, and 2021, increased by 20%. Alternatively, taxpayers subject to the contribution may opt to base the contribution of 50% of taxable profit for 2023 instead of profit in the period 1 July to 31 December 2023.