Bulgaria Continues to Have Lowest Minimum Wage in EU
According to Eurostat data from July 1, 2024, Bulgaria has the lowest minimum wage in the European Union
After the new tax on interest of bank deposits of Bulgarians, Finance Minister, Simeon Djankov, plans to impose taxes on gambling and stock exchange profits.
The plan emerged Saturday during Djankov's interview for Darik radio. The Minister informed these new taxes could also become effective as early as the beginning of 2013.
He said his experts are working on respective texts that could be proposed between the two parliamentary readings on the draft 2013 State budget.
According to him, the goal is to have same measures for all income, regardless of its source.
Djankov further explained he would support a tax on bank transactions, but it would most likely be introduced during the term of the next Cabinet. The only income the Minister would not touch is retirement pensions.
He voiced the opinion that the flat 10% tax must be changed as well and Bulgaria should transition in the next few years to a progressive taxation while the maximum insurance cap must be also eliminated by the next Cabinet. His ideas stretch to reforming the retirement system with people having a choice to make additional retirement contributions between the National Social Security Institute, NOI, and private funds. He believes the majority would choose NOI.
Djankov stressed he was convicted that Prime Minister, Boyko Borisov, is the only individual who is capable of ruling the country and taking it to a well-being. He promised to apply any possible effort to help Borisov's Citizens for European Development of Bulgaria party, GERB, either as a second term as Finance Minister, or as Member of the Parliament. His long-term plans, however, focus on living abroad.
When ask to comment on threats of large-scale protests over the new tax, Djankov replied: "Let them come."
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Recent changes to the Law on Payment Services and Payment Systems regarding the adoption of the euro have raised concerns among legal experts about potential contradictions with the already enacted Law on the Introduction of the Euro
In 2023, approximately 2,400 Bulgarians earned monthly incomes exceeding 50,000 leva (around 25,000 euros)
By the end of July 2024, Bulgarian banks reported a profit of 2.1 billion leva, marking an increase of 115 million leva compared to the same period in 2023
In Bulgaria, there has been a significant rise in the use of quick loans, a trend driven by several factors
The recent record high in gold prices has sparked discussions among financial analysts about its implications for the economy
The Ministry of Finance in Bulgaria has introduced a draft Law on Cryptoasset Markets aimed at regulating the trading of crypto-assets
Bulgaria Ranks Second in the Balkans at Paris 2024 Olympics, 26th Overall
Bulgaria Leads Europe in Heat-Related Deaths in Record-Breaking 2023