No plans for tax raises, just tax amnesty
There are no plans to raise insurance or basic tax rates next year, announced Minister of Finance Lyudmila Petkova. There will be two new taxes however - on underground wealth and on the excess profit of banks.
In the plans there is also a tax amnesty for individuals who failed to declare proper income over the past 5 years. It is likely that the excise tax on cigarettes will increase more sharply, and VAT for restaurants will revert to 20%. The budget is still to be presented to the New Parliament, once it starts working.
Last for part-time workers
Bulgaria ranks last in terms of the share of part-time workers among the former Eastern Bloc countries, Eurostat data show for 2023. While in Western Europe part-time employment is common and even preferred by women with children, in Bulgaria a negligible percentage of workers choose a similar form of work. This trend is due to a mix of economic, social and cultural factors, experts told Capital.
GERB wants negotiations for cabinet, yet Borissov still fumes
The biggest party, GERB, accused the second - We continue the change - Democratic Bulgaria of not wanting to form a cabinet. However, the party has announced its readiness to participate in leadership talks with the second largest political force, but only if they are for the formation of a regular cabinet. Boyko Borissov, the ex PM and leader of GERB stated that otherwise WCC-DB can "go look for another majority".
The second biggest party insists on Borissov ruling himself out of becoming the PM again and a clear distancing from corruption mogul Delyan Peevski.
No plans for tax raises, just tax amnesty
There are no plans to raise insurance or basic tax rates next year, announced Minister of Finance Lyudmila Petkova. There will be two new taxes however - on underground wealth and on the excess profit of banks.
