FinMin Says Will Keep Bank Deposit Tax

FinMin Says Will Keep Bank Deposit Tax

The government will keep the 10% bank deposit tax, as the revenues will go for education next year, finance minister Petar Chobanov said, backtracking on earlier plans to scrap the levy.
The government expects to collect 90 million levs in revenues from the tax, Chobanov told reporters on Tuesday, after a meeting of the National Council for Tripartite Cooperation. 
Bulgaria introduced a flat tax of 10% on interest earnings from bank deposits as of January 1 amid criticism from the Bulgarian Socialist Party that it is unfair. Subject to the new tax are deposit accounts in Bulgarian commercial banks and the branches of foreign lenders established in EU member states and non-EU countries part on the European economic area agreement. 
Chobanov also said he will consider a proposal by the trade unions to revise plans to  remove tax concessions for young families with mortgages.
 
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