For the first time in many years, the state has been unable to collect the projected sum om VAT – it is 670 million Leva short (EUR 335 million), the Finance Ministry has announced.
In July, parliament updated the budget, raising the projected GDP growth, and adding 11 billion Leva (EUR 5.5 billion) of expenditure. But due to the fact that differentiated VAT was retained for tourism, restaurants, bread and flour, the revenues expected have not been collected, the Finance Ministry says. The taxes collected in the 2022 budget amount to 31.6 billion Leva (EUR 15.7 billion), which is only 100 million Leva (EUR 50 million) more than planned. The overfulfilment comes from corporate tax and from taxation of incomes of natural persons, whereas indirect taxes – VAT and excise – are below the projected levels for the year, the ministry points out.
The Ministry of Finance approved a concept of a draft bill of the state budget for 2023, according to which a deficit of 3% will be attained by raising some taxes, dropping preferential VAT as of mid-2023, and raising toll fees, as well as raising..
Bulgarian international flights in 2022 have reached 74.8% of the 2019 level . This was announced by the Bulgarian Airlines Association Chair Svetoslav Stanulov at a press conference, at which an aviation market analysis was presented. There are 19..
Finance Minister in the caretaker cabinet Rositza Velkova has asked the ministries, by letter, to cut expenditure by 20% due to a risk to the budget, Trud and 24 Chasa write in their online versions. The cause for concern is the..
The Ministry of Finance approved a concept of a draft bill of the state budget for 2023, according to which a deficit of 3% will be attained by raising..