BGN 100 Million Budget for the Elections in Bulgaria
The new acting finance minister, Lyudmila Petkova, unveiled the budget for the upcoming elections, which amounts to BGN 100 million
Bulgaria’s Finance Minister Vladislav Goranov has ruled out proposals to introduce differential VAT rates on food products.
Speaking Tuesday at a discussion on Bulgaria’s economy, he said that differentiated VAT rates were hard to administer.
He claimed that the unified VAT rate was the fairest and most neutral option as regards risks of skewing consumption trends.
Goranov, as cited by news.bg, admitted that every sector would like to have lower VAT rates.
He suggested, however, that the flat tax rate had been used to rule empires.
Bulgarian producers have repeatedly called for differentiated VAT rates.
Romania is to adopt changes to its taxation system as of January 1, 2016, with the VAT rate to be reduced by 4%.
As a result, the standard VAT rate in Romania will become 20% as of 2016, with plans to reduce it to 18% as of January 1, 2018.
As of 2016, Romania will introduce a differentiated VAT rate of 9% on meat, fruit and vegetables, and fish.
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Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
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