KEYWORDS TODAY:   RESIGNATIONBSPMalaysia Airlines Crash in Eastern UkraineKTB

HOT: » Bulgaria's government has stepped down

Bulgaria's Tax Freedom Day Comes on April 30

Business | April 29, 2014, Tuesday // 17:16| Views: 939 | Comments: 0
  • Send to Kindle
Bulgaria: Bulgaria's Tax Freedom Day Comes on April 30 File photo.

This year the Tax Freedom Day in Bulgaria comes on April 30, according to an analysis of the Institute for Market Economy (IME). 

This is the day, when the planned revenues of the state budget would be completed, if the state took everything the people earned. 

Traditionally Tax Freedom Day in Bulgaria is either in the and of April or the beginning of May. In the past 5-6 years it tends to come earlier, as the government plans a budget deficit. 

The IME analysis of the official data shows, that in 2014 the working Bulgarians would produce an average of BGN 228 M per calendar day, measured through the expected GDP. Respectively, they would need to work 120 days to generate the planned BGN 27 B national budget revenues. 

Most days would be spent for generating VAT revenues – 36. For excise duties would be needed 19 days. For various insurance payments – 27 days, of which 19 days for social insurance and 8 for health insurance. The income tax would need 12 days and 7 days - for corporate tax. Another 7 days are necessary for state and municipal taxes. Three days of work are for covering the property taxes.

Business » Be a reporter: Write and send your article
Tags: Tax Freedom Day, Bulgaria, state budget
Expats.bg All Are Welcome! Join Now!

Leave a comment


Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria