Bulgaria Anti-Crisis Package to Help Mitigate Effects of Inflation

The Bulgarian government has announced an anti-crisis package to help mitigate the effects of inflation. Among other things, the package includes certain VAT measures:

• Reduction in the VAT rate on bread to 0%;
• Reduction in the VAT rate on heating, hot water, and natural gas for end-use/household consumers to 9%; and
• Increase in the VAT registration threshold from BGN 50,000 to BGN 100,000.

The package also includes discounts on petrol, diesel, and other fuels for individuals, an exemption from excise tax on electricity and natural gas, and increased tax relief for families with children. The package is subject to approval in parliament.

Source Orbitax

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