Labor Minister: Bulgaria Will Not Introduce Non-Taxable Income
Bulgaria will not introduce a non-taxable minimum income or increase social security contributions increase, according to Hasan Ademov, Minister of Labor and Social Policy.
Speaking Monday at a forum organized by the Confederation of Independent Trade Unions in Bulgaria (CITUB), Ademov admitted that the introduction of non-taxable income amounting to the minimum monthly wage would increase disposable income, yet at the same time would bring about a huge deficit of around BGN 600-700 M in the revenue part the state budget.
"It is clear that it is not possible for the government and the Finance Ministry at this stage to afford to correct the tax scale and introduce a non-taxable income amounting to the minimum wage," Ademov declared, as cited by Darik radio.
He emphasized that the current economic growth and the collection of tax and social security revenues made it impossible to increase social security contributions.
Ademov noted that the idea of the socialist-led government to increase the minimum wage to BGN 340 as of January 2014 was yet to be discussed with the National Council for Tripartite Cooperation (NCTC).
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Kiril Petkov on his Citizenship: I Do Not Feel Any Guilt
I feel no moral guilt towards anyone. This was stated by Kiril Petkov, answering a question whether he would apologize to the Bulgarian people for violating the Constitution.
General Mutafchiiski with Special Award from Jewish Community in Bulgaria
Head of the Military Medical Academy (MMA) Major General Prof.
Bulgaria: Prices Will Rise More Steeply than Expected - Finance Ministry
The Ministry of Finance has revised its autumn forecast for economic development.
Three Foreigners Arrested in Bulgaria for Trading Info from Arsenal military plant
Bulgarian police arrested a Russian citizen and two Lithuanians on suspicion of exporting “sensitive information” from the Arsenal military plant in Kazanlak.
Caretaker Government Required State-owned Companies to Pay Dividend
The government has changed its order requiring state-owned companies to pay a dividend to the budget.