Bulgaria Had EU's Second-Lowest Tax Burden in 2013
Bulgaria had the second-lowest tax burden in the EU, Eurostat data has shown.
The country was second only to Lithuania, but had the lowest income levy in within the bloc with its 10-percent flat rate, the Bulgarian National Radio reports citing the European statistical body.
Tax burden was 27.2% in Lithuania and 27.9% in Bulgaria and Latvia in 2013, compared to 28.3% in Romania, 45% in France and 43.1% in Austria.
Bulgaria also ranks first in EU in terms of the share excise and consumption taxes have in budget revenues (53.3%). The other countries falling into that category are Croatia, Malta, and Romania.
Most EU countries use income taxation as the main source of budget revenues, with Sweden, Portugal and Denmark levying income with 55%. but this is not the case for Bulgaria, where it is slightly below a third of the total (32.9%).
- » Fitch Affirms Bulgaria's BBB- Rating
- » S&P Confirms 'Junk' Status of Bulgaria
- » European Parliament Approves EU Budget for 2017
- » BSP Threatens To Refer Budget 2017 to Constitutional Court
- » Annual Subsidy for Bulgarian Parties To Remain BGN 11 Per Valid Vote
- » Bulgarian Academy of Sciences Not To Receive Additional Funding