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Use Tax To Distribute Wealth, Says Bulgarian Ex PM

by Ulrika Lomas, Tax-News.com, Brussels

16 April 2014


Bulgarian opposition leader and former Prime Minister Boyko Borisov has said that the level of social inequality in the country should compel the Government to adopt a progressive tax system.

Speaking on Darik Radio's The Week program, Borisov argued that a flat tax only works in a well-functioning economy, and surmised that if politicians were to hold a debate on the matter they would reach the same conclusion.

He recalled that when he was Prime Minister he had defended the country's 10 percent flat income tax rate and 12 percent VAT at European level by arguing that the country needed foreign direct investment. He said that Bulgaria needed to catch up after being held back for 45 years before it could have taxes that match rates in other European countries.

Borisov resigned as Prime Minister in February 2013 following protests over high electricity prices and austerity. Borisov's center-right GERB party narrowly won elections the following May, but was unable to find coalition partners. Consequently, the Socialist Party, which came second, formed a technocratic Government with Plamen Oresharski appointed as Prime Minister.

TAGS: tax | value added tax (VAT) | Bulgaria | tax rates | tax reform | individual income tax | European Union (EU) | Europe

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