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Business | June 28, 2006, Wednesday // 00:00
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Bulgarian publishers lay books on the tiles before Parliament, protesting the VAT on books. Photo by Kameliya Atanasova (Sofia News Agency)
Publishers in Bulgaria have launched a strike, demanding that the government abolishes the 20% VAT on books and textbooks.
Bulgaria's budget commission has nodded a change in the VAT law that would lead to a 20% rise in the prices of books and school materials, publishers alarmed.
If the government also approves the change, books in the country will become a strain on the budget of many Bulgarians. Should the VAT be abolished, however, their price could drop by about 10%, making them more affordable, and stimulating more buys.
Bulgaria's publishing industry is already suffering because of the high prices, and the number of books that come out yearly is about 12 times lower than in European countries.
Bulgaria's budget commission has nodded a change in the VAT law that would lead to a 20% rise in the prices of books and school materials, publishers alarmed.
If the government also approves the change, books in the country will become a strain on the budget of many Bulgarians. Should the VAT be abolished, however, their price could drop by about 10%, making them more affordable, and stimulating more buys.
Bulgaria's publishing industry is already suffering because of the high prices, and the number of books that come out yearly is about 12 times lower than in European countries.
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