Higher VAT will lead to customer outflow and bankruptcies, says BHRA chairman in Veliko Tarnovo.

• Higher VAT will lead to loss of customers and bankruptcies
• Regional structure of BHRA in Veliko Tarnovo opposes the increase in VAT
• Some parties support the VAT increase, while others want it to remain low
• VAT is an indirect tax that affects prices and customer demand
• VAT rates in neighboring countries are lower than in Bulgaria
• Protests against high VAT started before the COVID crisis
• Concerns about businesses moving to the informal sector to lower prices
• Higher prices in the tourism sector may lead to bankruptcies and job losses

Source: bta.bg

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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