Bulgaria To Raise Four Excise Duty Rates from 2012

Bulgaria To Raise Four Excise Duty Rates from 2012

The Bulgarian parliament approved on Thursday the country's final 2012 tax and excise framework, providing for a raise in four fuel excise duty rates.

The excise duty on gas oil and kerosene will increase from 630 levs ($432/322 euro) to 650 levs per 1,000 litres from January, local newspaper Sega (www.segabg.com) reported.

In June, Bulgaria will introduce for the first time an excise duty on methane that will amount to 0.85 levs per gigajoule, while the excise duty on natural gas used for industrial heating purposes will be set at 0.1 levs per gigajoule. The natural gas used for household purposes, however, will be exempt from excise duty.

The parliamentary majority from the ruling center-right GERB party rejected a proposal from DSB leader Ivan Kostov to postpone the increase in the excise duty rates due to the current financial crisis. However, the adopted tax amendments are lower than the initial suggestions for doubling the excise duty on methane and natural gas.

 

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