Bulgarian Trade Unions and Employers Against Reduction of VAT on Flour and Medicines

Politics » DOMESTIC | June 19, 2019, Wednesday // 20:08| Views: | Comments: 0
Bulgaria: Bulgarian Trade Unions and Employers Against Reduction of VAT on Flour and Medicines

Trade unions and employers have opposed the proposal of the Bulgarian Socialist Party (BSP) to reduce VAT on flour and flour products, milk, eggs and cheese from 20% to 5%, and of medicines to 9%, Focus News Agency reports.
At a session of the National Council for Tripartite Cooperation, Chair of the Bulgarian Industrial Capital Association (BICA) Vasil Velev said the association will not support the project. He pointed out that VAT is the main pillar of budget revenues and its collection is effective. Velev also commented that if the changes were accepted, the final price for consumers would not be reduced and only traders' revenues would increase. 
Dimitar Brankov, Deputy Chairman of the Bulgarian Industrial Association (BIA), also expressed an opinion against the changes, pointing out that they should be discussed for a longer time. 
At the Chamber of Commerce, the Confederation of Employers and Industrialists in Bulgaria and the Confederation of Independent Trade Unions of Bulgaria (KNSB/CITUB) also opposed the bill. KNSB said there should be restructuring of the entire tax system in view of people's income.

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