Bulgaria’s National Assembly rejected President Rumen Radev’s veto on amendments to the VAT Act. The amendments introduce new provisions to the Consumer Loans Act which Bulgaria’s head of state Radev called “inadmissible” and “legally intolerable”. 

The new texts envisage that non-bank financial institutions can charge a double penalty to consumers if they fail to fulfill their obligations under a loan agreement. The proposal was submitted by the independent MP Spas Panchev. The Bulgarian Socialist Party called the adopted amendment “social genocide, BNR reporter Daniel Inkov reports.”