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Bill for differentiated VAT submitted in Parliament

published on 5/15/20 6:19 PM

Photo: Ani Petrova

The ruling coalition in Bulgaria has introduced a bill in parliament to reduce VAT for restaurateurs from 20% to 9%. It is proposed to raise the insurance threshold in tourism from 305 to 400 euros. VAT on books is also reduced. The missed annual revenues for the budget will be 137 million euros.

Another proposal is to issue state vouchers for holidays in Bulgaria to people on the front lines in the fight against the epidemic.

The reduction of VAT is for a period from July 1 to the end of 2021.

Tourism accounts for 12% of Bulgaria's GDP. The petitioners believe that the differentiated VAT is a chance for Bulgarian tourism in the Covid-19 crisis.

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Radio Bulgaria News GDP restaurateurs tourism tourist sector VAT

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