Bulgaria: What Taxpayers Need to Know After the Euro Changeover
The annual campaign for filing personal income tax returns under Article 50 of the Personal Income Tax Act is underway
President Rumen Radev
In a recent Facebook post, Ivaylo Mirchev, an MP from "We Continue the Change - Democratic Bulgaria," raised suspicions about President Rumen Radev's alleged sabotage of Bulgaria's Eurozone aspirations. The suspicion stemmed from a notable discrepancy in the 2023 budget deficit figures, indicating deliberate obstruction.
Mirchev highlighted the budget proposal presented by Radev's caretaker government in April, displaying a 6.4% deficit. Finance Minister Rositsa Velkova cautioned that such a deficit would severely hinder Bulgaria's Eurozone accession. However, subsequent efforts by the Denkov-Gabriel cabinet managed to reduce the deficit to 2.2%, as per a statement released by the finance ministry.
Based on this difference, Mirchev inferred that Radev's intentional actions aimed to thwart Bulgaria's Eurozone ambitions by setting a deficit that exceeds the permissible 3%, effectively impeding Euro adoption.
Finance Minister Asen Vassilev recently expressed optimism about Bulgaria meeting Eurozone entry criteria by mid-2024, positioning for approval in the following year.
Former caretaker justice minister Krum Zarkov has been elected as the new leader of the Bulgarian Socialist Party following a vote at the party’s 51st Congress, held in Sofia on Saturday.
Bulgaria’s demographic crisis has moved beyond the realm of statistics and has become a matter of national security, according to Associate Professor Spas Tashev
GERB leader Boyko Borissov has urged President Vezhdi Yotova to swiftly appoint a caretaker government, warning that Bulgaria is once again facing an institutional vacuum
Three political groups in the Sofia Municipal Council have demanded the removal of Stilyan Manolov, head of Stolichni Autotransport EAD, citing a controversial bus procurement deal they claim harms the city’s residents.
The European Commission has recommended a new submarine cable connecting Bulgaria as part of its Cable Projects of European Interest (CPEI), under the EU’s Action Plan on the Security of Submarine Cables
Bulgaria is on track to potentially join the Organization for Economic Cooperation and Development (OECD) by 2027, though significant steps still need to be completed to secure full membership
Novinite 2025 in Review: A Year That Tested Bulgaria and the World
A Disgraceful Betrayal: Bulgaria's Shameful Entry into Trump's Board of Peace