Bulgarian Cabinet Reports 89% Implementation of the Plan to Reduce Barriers to Business

Politics » DOMESTIC | March 27, 2019, Wednesday // 19:33
Bulgaria: Bulgarian Cabinet Reports 89% Implementation of the Plan to Reduce Barriers to Business pixabay.com

The government adopted a final report by the end of 2018 on the implementation of the third Action Plan to reduce administrative burdens for businesses, "with 30 percent of the legislation selected," the government's press service said.

Since implementation of the three plans, 384 (89%) of 432 measures have been implemented in April 2010 by the end of 2018.

159 normative acts have been amended. 334 information obligations have been changed and canceled, accounting for 95% of the planned 353. As a result, the administrative burden for businesses has decreased by BGN 461.5 million per year, representing 96% of the planned decrease by 482.6 million.

The non-executed measures are 48, i. 11% of all measures. The responsible institutions are committed to their implementation by the end of 2019.

Among the most important measures implemented under the three plans are the introduction of the electronic register of the hospital documents, the electronic submission of documents to the National Revenue Agency, the development of electronic services allowing the exchange of information by the way between the National Revenue Agency and others state institutions for the presence or lack of tax liabilities and the current state of the labor contracts, etc.

It is pointed out that one of the most important measures in the third plan is to be implemented: the establishment of a unified information system between the National Statistical Institute (NSI), the National Revenue Agency and the Registry Agency, allowing once-filled information in the electronic document submitted to NSI will automatically serve also for the purpose of publishing the annual financial report subject to announcement in the Commercial Register.

This measure will reduce the administrative burden for businesses by over BGN 9 million per year, the government estimates.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Domestic » Be a reporter: Write and send your article
Tags: money, business, Bulgaria, revenues, NSI, National Statistical Institute, government
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria