VAT on some products to remain lower next year

VAT on some products to remain lower next year

Representatives of the four political forces, which are discussing the possibility of forming a coalition government have agreed that the taxes on some goods should remain lower as an anti-crisis measure. Representatives of "We Continue the Change" said they had no plans to make changes in the tax system next year. Assen Vassilev, co-chair of "We Continue the Change", who will probably take the position of Minister of Finance, has agreed to raising the threshold for VAT registration to 50,000 euros in 2023 and 80,000 euros in 2024 under strict connectivity control and high fines. Vassilev also suggested that all withdrawals from a bank over 5,000 euros and transfers abroad over half a million euros should be reported to the National Revenue Agency.

The parties also agreed on the idea of introducing a coefficient for determining the maximum social insurance threshold. At the initiative of BSP, the four parties agreed that the minimum monthly salary should not be lower than 350 euros and after that it should become a fixed percentage of the national average.

On the last day of the talks the experts from the four parties agreed on the main points related to finances and that the budget for 2022 would be adopted by the end of January.

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