Half of Bulgarians' Income Returned to Treasury in Taxes, Contributions

Business » FINANCE | November 22, 2016, Tuesday // 14:34| Views: | Comments: 0
Bulgaria: Half of Bulgarians' Income Returned to Treasury in Taxes, Contributions BGNES

Half of the annual income of every Bulgarian is returned to the treasury in the form of personal tax burden, showed estimates of the economists at the Institute for Market Economy.

The tax burden of every working Bulgarian reaches up to 45% of his/her income and when municipal taxes and fees are added, it becomes nearly 50%.

Social security contributions, VAT and excise tax make up the greatest burden.

According to economists, every single Bulgarian will pay to the treasury BGN 5,140 for expenses planned under budget 2017. The amount accrued for every Bulgarian under the state debt over the years is an additional BGN 3,340.


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Tags: taxes, VAT, excise, contributions, burden, debt, budget
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