Expats

Bulgaria EU Commissioner Says Yes to VAT Reduction [Mar 12, 2012] Bulgaria's European Commissioner Kristalina Georgieva has backed the government's plans to lower the 20% value-added-tax by the end of its term, but with a pinch of salt. "VAT reduction is an option for boosting domestic demand, but we must carefully balance the reduction of budget revenues and more money in people's pocket," Commissioner Kristalina Georgieva, a former World Bank official ... [via YahooNews] More >>

Bulgaria Govt Confirms Plans for VAT Cut by Mid-2013 [Mar 06, 2012] Bulgaria's government has voiced, yet again, its willingness to lower the 20% value-added-tax by the end of its term, which expires next year. "The VAT level is likely to be changed at the end of 2012 or the beginning of 2013," Bulgaria's Deputy Prime Minister and Finance Minister, Simeon Djankov, told the morning broadcast of Nova TV on Tuesday. The news comes as Croatia and Cyprus increased ... [via YahooNews] More >>

Bulgaria To Cut VAT In 2013 [Dec 29, 2011] The Bulgarian government has announced that it will deliver on the pledge it made when entering into office in 2009 and begin to reduce the nation's value-added tax towards 16% by 2015, in all probability by 1% in 2013. [via YahooNews] More >>

Bulgaria FinMin: VAT Cut Next Year Not Ruled Out [Nov 09, 2011] Bulgaria's finance minister has confirmed that the prospect of a cut in the value-added tax (VAT) rate, which now stands at 20%, is likely next year. Speaking in an interview for Trud daily Minister Simeon Djankov pointed out that to be successful tax changes of this kind have to come as a surprise. "Otherwise consumption can grind to a halt, waiting for the new VAT to come into force.... [via YahooNews] More >>

Bulgaria Says No to New EU Taxes [Sep 23, 2011] Bulgaria has risen against a European Commission proposal for the introduction of new taxes across the European Union, including a financial-transaction levy and a new value added tax. "Bulgaria doesn't support the introduction of new taxes because it will impose an extra burden on EU citizens and companies," it said in a statement. "The introduction of the Financial Transactions Tax on an EU ... [via YahooNews] More >>

Bulgaria To Avoid VAT Hike, [May 26, 2010] Determined to consolidate the countrys budget deficit, Bulgarias Finance Minister Simeon Djankov has announced plans to implement a 20% cut in public spending, rather than raising the 20% value-added tax (VAT) rate. [via YahooNews] More >>

Bulgaria Government Decides against VAT Hike [May 05, 2010] Bulgaria PM Boyko Borisov has confirmed that his center-right GERB government will not increase Value Added Tax (V.A.T) from the current 20%. Bulgarias Interior Minister Tsvetan Tsvetanov swelling ratings and growing popularity have put him ahead even of Prime Minister Boyko Borisov. [via YahooNews] More >>

Bulgaria PM Assuages VAT Hike Fears [May 02, 2010] The cabinet is going to apply all possible effort to avoid the increase of the Value Added Tax (VAT), Bulgarias Prime Minister, Boyko Borisov, declared over the weekend. [via YahooNews] More >>

Bulgarias Economy Minister: Upping VAT Bad Idea [Apr 29, 2010] Bulgarias Economy Minister Traicho Traikov has expressed misgivings about the idea of the Borisov government to increase the value-added tax. The increase of the VAT is not a measure that is implemented in order to stimulate the economy. [via YahooNews] More >>

Bulgaria's PM Tries to Assuage Fears over VAT Hike [Apr 29, 2010] Bulgaria's prime minister has confirmed that the prospect of a hike in the value-added tax (VAT) rate, which now stands at 20%, is quite likely, but assured it will be followed by a cut. [via YahooNews] More >>

Bulgaria PM Vows to Increase VAT If Anti-Crisis Program Fails [Apr 20, 2010] Bulgarias Prime Minister Borisov has not ruled out upping the countrys value-added tax from 20% to 22%. [via YahooNews] More >>

Bulgaria Says "Untouchable" Detainees Siphoned off VAT [Apr 15, 2010] The latest raid of Bulgaria's police against organized crime groups, code-named The Untouchable", will cut a scheme to siphon off millions of levs in value-added tax from the budget, officials have said. [via YahooNews] More >>

PM: Bulgaria Might Still Have to Up VAT over 'Illegal Govt Contracts' (Novinite.com) [Mar 31, 2010] Bulgaria?s government may have to increase the value-added tax if it fails to renounce what is described as illegal public procurement contracts made by the previous Cabinet. [via YahooNews] More >>

Bulgaria Govt Makes U-Turn over VAT Hike (Novinite.com) [Mar 29, 2010] Bulgaria's center-right government has dropped plans to increase the value-added tax by 2 percentage points to to 22 percent, reports say. [via YahooNews] More >>

Bulgaria Business Frowns at Planned Tax Hikes (Novinite.com) [Mar 29, 2010] Representatives from all business sectors have cautioned that the hike in the value-added tax in Bulgaria should be a last-ditch measure that should only be introduced together with an overhaul in government expenditure. [via YahooNews] More >>

Bulgaria Right Wing Leader Firmly against VAT Hike (Novinite.com) [Mar 29, 2010] The leader of the right-wing Democrats for Strong Bulgaria (DSB), Ivan Kostov, firmly opposes the proposal to increase VAT by 2% for one year. The Value Added Tax (VAT) increase is going to deepen the crisis instead of alleviating the situation, Kostov believes. [via YahooNews] More >>

Bulgaria King's Party Backs Govt Anti-Crisis Measures (Novinite.com) [Mar 28, 2010] Bulgaria's government plans to increase the value-added tax by 2 percentage points to to 22 percent has been conditionally backed by the centrist party of former king Simeon Saxe-Coburg, junior coalition member in the previous Socialist-led cabinet. [via YahooNews] More >>

Bulgaria Tourism Sector Cries Foul over VAT Hike (Novinite.com) [Mar 25, 2010] Bulgaria's government plans to increase the value-added tax by 2 percentage points to to 22 percent triggered vehement opposition by representatives of the tourism sector, saying the move will be detrimental for them. [via YahooNews] More >>

Expert Urges Bulgaria Govt to Wait with VAT Increase (Novinite.com) [Mar 25, 2010] Bulgaria?s government should not rush into increasing the value-added tax, according to Georgi Prohaski, Chair of the Sofia-based Center for Economic Development. [via YahooNews] More >>

Bulgaria Govt Split over VAT Hike, Luxury Tax (Novinite.com) [Mar 24, 2010] Bulgaria's finance minister plans to increase the value-added tax and introduce a new luxury tax have received mixed responses from the government, it emerged on Wednesday. [via YahooNews] More >>