Several sectors to keep 9% VAT next year
The reduced VAT rate of 9 percent for tourist, restaurant and catering services and for gyms will be extended until the end of 2023, parliament has decided. In addition, the zero VAT rate for bread and flour will also be extended until the end of next year. According to previous provisions of the law, it was originally supposed to be applied only until July 1, 2023.
The budget will lose a total of 520 million levs on account of these changes in VAT, according to estimates of Capital.
IT sector has grown by 26% in 2022 to 4.5% of GDP
The Bulgarian software sector continues to grow and in 2022, according to forecast data from the Bulgarian Association of Software Companies (BASCOM), the total revenues of companies from the industry will reach 7.34 billion levs, or 4.5% of the GDP.
This year software companies will bring in nearly 1.27 billion levs in taxes and insurance, 214 million levs more than in 2021. By 2026, payments for taxes and insurance should be close to 2.9 billion levs.
BASCOM expects that in the coming years another 34,000 new employees will be needed, but it is not clear where they will come from because state universities do not produce a sufficient number of bachelors and masters in technical specialties - about 2,500 people each year.
Mellifera raises more than 1 million levs on stock exchange
Honey gel producer Mellifera managed to place about 241 thousand shares at a price of 4.4, levs, raising a little over 1.06 million levs from a total of 87 investors. The company's goal was to attract about 2 million levs in capital, but the minimum threshold was set at about 0.5 million levs, which makes the offering successful.
The company has previously pledged more than 1.5 million levs for marketing, expansion of the production base and the purchase of machines, so it is not clear what costs will be cut or whether additional funds will be sought in another way.
Several sectors to keep 9% VAT next year
The reduced VAT rate of 9 percent for tourist, restaurant and catering services and for gyms will be extended until the end of 2023, parliament has decided. In addition, the zero VAT rate for bread and flour will also be extended until the end of next year. According to previous provisions of the law, it was originally supposed to be applied only until July 1, 2023.
