Bulgaria: What Taxpayers Need to Know After the Euro Changeover
The annual campaign for filing personal income tax returns under Article 50 of the Personal Income Tax Act is underway
Bulgarian EU Commissioner kristalina Georgieva (L) and PM Boyko Borisov (R) during the fifth annual business-government meeting. Photo by BGNES
Even though one would expect Bulgaria to be among the last states to deal with the global financial crisis and recover its economy, it could easily turn out to be performing outstandingly, according to Bulgarian EU Commissioner Kristalina Georgieva.
Kristalina Georgieva expressed her optimistic views on the future Bulgarian development during the fifth annual business-government meeting in Bulgaria, which is organized by Confederation of Employers and Industrialists and the Capital weekly newspaper.
"A certain risk exists for the well performing countries to get overconfident, to try to divide from the rest. Meanwhile, Bulgaria has the opportunity to catch up with them," the Bulgarian EU Commissioner stated.
She emphasized the importance of introducing key reforms in order to deal with the crisis and gave Sweden, Latvia and the Czech Republic as excellent examples for states in which difficult reforms have been carried out, while their societies still have appreciated that and have reelected the respective governments.
Georgieva expressed her satisfaction with the governments efforts on improving the infrastructure. However, she pointed out the energy sector and the insufficient use of the Internet as particularly weak areas.
"We have to urge an increase in energy effectiveness", she said.
Kristalina Georgieva, who was Vice President and Corporate Secretary of the World Bank Group and is currently serving as European Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, was recently announced the most popular politician in Bulgaria, achieving a higher approval rate than current Bulgarian PM Boyko Borisov, according to social survey.
The annual campaign for filing personal income tax returns under Article 50 of the Personal Income Tax Act is underway
Two-room dwellings make up the largest portion of newly built homes in Bulgaria, according to data for the fourth quarter of 2025.
The Bulgarian National Bank reported that as of February 6, 2026, the withdrawal of lev banknotes and coins and their replacement with euro cash is progressing in line with the applicable legislation and the operational plans approved for the transition.
In 2024, about 68% of households across the European Union were owner-occupied, a slight decline from 69% in 2023, according to Eurostat data. The remaining 32% of the EU population lived in rented homes, up from 31% the previous year.
Retail trade in Bulgaria continued its strong momentum at the end of 2025, standing out among European Union countries as one of the top performers, according to Eurostat data.
Between 2019 and 2023, Bulgaria’s industrial sector has experienced a significant contraction, with roughly 104,557 jobs lost, nearly half of them in the processing industry, amounting to almost 15% of the country’s industrial workforce
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