Bulgaria to preserve the existing tax system throughout 2017

The Bulgarian tax system is working well and need not be alternated throughout 2017. The government will not resort to any changes for now as the system currently in force has been generating GDP growth that is beyond the EU’s average at the moment, the head of Parliament’s budget committee has said.

The head of Parliament’s budget committee Menda Stoyanova has thus rejected calls from the opposition to introduce differential VAT rates for children’s goods, books, medicine and several other items.

She has warned the move could only exhaust the fiscal reserve but might not result in lower prices for the goods in question.