Time's Up: Last Call for Tax Returns in Bulgaria
As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns
Bulgaria will keep its restrictive currency board system until it adopts the euro, according to the governance programme of GERB-lead coalition.
Keeping budget deficit and public debt low according to EU criteria and providing conservative and efficient management of state treasury and public debt are also part of the programme of the government coalition of centre-right GERB and right-wing Reformist Block backed by left-wing ABV and nationalist Patriotic Front.
The new government, which is expected to take office on Friday, also pledges to keep taxes unchanged and continue to maintain the level of re-distribution of budget resources by the state at up to 39% of GDP.
Other fiscal highlights of the programme include:
- Introduction of tax on capital market transactions;
- Adopting legislation that will limit the participation of offshore companies in Bulgaria’s economy;
- Increasing both budget revenue and revenue collection rate through structural changes and merger of the National Revenue Agency and the Customs Office;
- Restoring trust in the central bank through legislative and staff changes compliant with EU legislation;
- Adopting an update to the 2014 budget. Drafting and adopting 2015 budget bill.
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Starting from January 1, 2025, Bulgaria aims to raise its minimum wage to at least BGN 1,080 (EUR 552), a significant increase from the current BGN 933
Bulgaria’s prospects for joining the euro in 2025 have been bolstered by a cooling annual inflation rate, which dropped to the eurozone average of 2.4% in April, marking its first dip below 3% since the summer of 2021
In April, inflation across the European Union remained steady, with both the EU and the Eurozone recording a rate of 2.6% and 2.4%, respectively, according to data from Eurostat, the official statistics agency of the EU
Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria's potential adoption of the euro in 2025 or early 2026
This was stated by the Governor of the Bulgarian National Bank at the international conference "Bulgaria in the Eurozone, When?" in Sofia
Former Finance Minister Simeon Dyankov has suggested that Bulgaria's potential entry into the Eurozone may not materialize before 2026
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU