During a recent meeting of the Council for Tripartite Cooperation, Bulgaria’s Finance Minister Simeon Djankov reportedly issued firm assurances that there would be no tax rises in Bulgaria in 2010.
According to the President of the Bulgarian Chamber of Commerce and Industry, Tsvetan Simeonov, Finance Minister Djankov confirmed that the government had no plans to make changes to either corporate or individual income tax, or indeed to raise value added tax (VAT), pledging to resign if his promise did not hold true.
Bulgaria’s Prime Minister Boyko Borisov has also reportedly emphasized that the government is making every effort to maintain the 20% VAT rate at its current level.
In the last few months, there has been much speculation and controversy over plans to increase VAT. Indeed, only last October, the Finance Minister suggested that the government would in fact cut the VAT rate by 4% some time in 2010.
The government is due to announce its final decision shortly.
.Tags: tax | law | corporation tax | value added tax (VAT) | individual income tax | Bulgaria
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