BGN 100 Million Budget for the Elections in Bulgaria
The new acting finance minister, Lyudmila Petkova, unveiled the budget for the upcoming elections, which amounts to BGN 100 million
Bulgaria’s Finance Minister Vladislav Goranov has ruled out proposals to introduce differential VAT rates on food products.
Speaking Tuesday at a discussion on Bulgaria’s economy, he said that differentiated VAT rates were hard to administer.
He claimed that the unified VAT rate was the fairest and most neutral option as regards risks of skewing consumption trends.
Goranov, as cited by news.bg, admitted that every sector would like to have lower VAT rates.
He suggested, however, that the flat tax rate had been used to rule empires.
Bulgarian producers have repeatedly called for differentiated VAT rates.
Romania is to adopt changes to its taxation system as of January 1, 2016, with the VAT rate to be reduced by 4%.
As a result, the standard VAT rate in Romania will become 20% as of 2016, with plans to reduce it to 18% as of January 1, 2018.
As of 2016, Romania will introduce a differentiated VAT rate of 9% on meat, fruit and vegetables, and fish.
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Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Experts suggest that Bulgaria's admission to the Eurozone is more realistic in January 2026
February witnessed a surge in remittances from Bulgarians residing abroad, reaching a remarkable EUR 110.5 million, marking the highest value since last July
Amidst financial fluctuations and strategic fiscal decisions, Bulgaria's Minister of Finance, Lyudmila Petkova, unveils the nation's robust fiscal reserve, standing tall at BGN 10.9 billion as of April 18th
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