Bulgaria to Keep Existing Tax System Next Year

Business » FINANCE | September 6, 2016, Tuesday // 10:30
Bulgaria: Bulgaria to Keep Existing Tax System Next Year File photo, BGNES

The tax system of Bulgaria is working well and need not be alterated throughout 2017, the head of Parliament's budget committee has said.

The government will not resort to any changes for now as the system currently in force has been generating GDP growth that is beyong the EU's average at the moment, Menda Stoyanova has told public broadcaster BNT in an interview.

Stoyanova, who presides over the Budgetary Affairs Committee with Parliament, has thus rejected calls from the opposition to introduce differential VAT rates for children's goods, books, medicine and several other items.

The Bulgarian Socialist Party (BSP) last week submitted the demand, but it was rejected as "populist" from the main ruling GERB party.

Stoyanova has warned the move could only exhaust the fiscal reserve but might not result in lower prices for the goods in question.

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Tags: Bulgarian Socialist Party, GERB, Menda Stoyanova, VAT
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