The Bulgarian Government has given clear indication that it will not raise its Value Added Tax (VAT) rates in order to reduce the current budget deficit. Speaking at a television interview on May 23rd, Simeon Djankov, Finance Minister of Bulgaria, denied any speculation regarding possible increases to the nation’s VAT rates. Economists across Europe, and political figures within the country, have called for a rise to the current 20 percent VAT flat-rate in order to eliminate the budget deficit. The current monetary imbalance ... Read More

The National Assembly of Bulgaria has approved the increase on all of the country's gambling taxes to a unified rate of 15%. On November 26th, the National Assembly of Bulgaria voted and approved amendments to the country's Corporate Income Act, which will see levies on sports gambling, casino games, the lottery and any other gambling activity being taxed at 15% of their annual revenue. Also, quarterly taxes on gambling machines will be set at BGN 500 (approx EUR 250) , while a ... Read More