ABOUT 80% OF PHARMACIES THREATENED TO GO BANKRUPT

Business | January 3, 2002, Thursday // 00:00

Bulgarian pharmaceutists demanded that the Cabinet's decree N 300 dealing with the fixation of medicines ceiling prices be overturned. According to them the terms envisaged in the decree will immediately lead to chaos in medicines distribution. The pharmaceutists insist on a three-month grace period before the introduction of VAT on medicines by producers, traders and pharmaceutists. It is claimed that the Cabinet's decree contradicts the Value Added Tax Act and the Ceiling Prices Act. If the decree is still in force in the next couple of days the drug-stores survival will depend entirely on the surplus charge. This would push medicines prices up by 20%-40%, which contradicts the Price Act. In this way the pharmacists explained the blocked market and predicted that 80% of the drug-stores will go bankrupt. The pharmacists’ union and the chamber of the medicines traders will lodge a complaint with Court against the VAT introduction.
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