Sofia Municipality Sees Increase in Vehicle Tax Revenue

Business » FINANCE | September 10, 2014, Wednesday // 18:01
Bulgaria: Sofia Municipality Sees Increase in Vehicle Tax Revenue Photo by BGNES.

Sofia Municipality reported an increase of BGN 7M in revenue from motor vehicles taxes in 2014, compared to the previous year.

Revenues for the first nine months of 2014 are nearly BGN 347M, which is 65% of the annual plan. Implementation is 21% higher compared to the same period last year, Deputy Mayor for Finance Doncho Barbalov told Bulgaria's National Radio.

“There has been a steady trend since the first months of this year for a better revenue collection. Revenues from taxes amount to BGN 167.5M, or 71% of the annual plan. Compared to last year, they are BGN 10.3M more. We have noticed that more and more citizens of Sofia are using electronic cards,” he said.

Revenues from old vehicle tax liabilities have increased as well: “In September 2013 we tightened control over this tax. There is a significant increase in the tax on motor vehicles. We have collected BGN 2.3M more old liabilities than last year,” Barbalov noted.

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Tags: Sofia Municipality, motor vehicles, tax, liabilities
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