Bulgaria's Tax Procedure Code Amendments Pass 1st Reading
Bulgarian lawmakers passed at first reading amendments to the Taxation and Social Security Procedure Code, Monday.
Under the amendments, tax payers will determine for themselves which liability to pay off first in case they cannot afford to settle all liabilities, Bulgaria's parliamentary website informed.
The changes to the Taxation and Social Security Procedure Code followed the finding of Bulgaria's Constitutional Court that the single account for paying taxes and mandatory social security contributions was unconstitutional.
The amendments regulate the payments distribution of relevant kind of public liabilities. The payments will settle the liability, the deadline of which is closest to the moment of payment. In case two or more public liabilities of the same kind are due on the same date, they will be paid off proportionately.
The electronic access to tax and insurance accounts will be preserved, providing the option to check payments status at all times.
- » Bulgaria's Current Account Surplus Drops to 0.2% in 1st 5 Months of 2017
- » Germany Won More than EUR 1 Billion from the Greek Crises
- » Germany and France plan united tax system
- » National Statistical Institute: Monthly Inflation of Minus 0.5% in June 2017
- » Total Number of Accommodation Establishments in Bulgaria Increased with 0.5% in May 2017
- » NSI: Exports to Third Countries Grow 26% YoY in Jan-May 2017
Once more, the country goes backwards. Not paying liabilities to the authorities should be criminalized (like it is in most countries), and eventually lead to a personal or corporate bankruptcy. Only a judge can give temporary protection.
What is the use of keeping sick companies alive? Let others do better!