Bulgaria’s 2013 Tax Freedom Day Falls on May 1

Bulgaria’s 2013 Tax Freedom Day Falls on May 1

Tax Freedom Day - the figurative date when a nation has earned enough to pay all its taxes - this year falls on May 1 in Bulgaria, the local Institute for Market Economics (IME) said.

Based on the projected gross domestic product for 2013, Bulgarians will earn an average 233 million levs ($155 million/119 million euro) per calendar day, the IME said.

A total of 120 days will be needed to accumulate the 27 billion levs revenue planned in the budget, it added.

In Bulgaria Tax Freedom Day traditionally falls in May as in recent years it tends to move earlier because of the lower revenues and the budget deficit projected. It fell on April 20 last year and on May 4 a year earlier.

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