Bulgaria will cut VAT to 16 per cent by the end of this Government's term
Value-Added Tax (VAT) in Bulgaria should be slashed from 20 per cent to 16 per cent by the end of the term of Prime Minister Boiko Borissov's Government, said on October 17 2009.
The measure proposed by the Cabinet dominated by Borissov's right-of-centre political party GERB, which swept into power after the July 5 2009 parliamentary elections, has been long pursued by the Union of Democratic Forces (UDF) and Democrats for Strong Bulgaria (DSB).
Speaking at a Bulgarian Medical Association (BMA) event, Dyankov said that the Government would not introduce differentiated VAT rates for medical equipment and medication, as such a move would trigger an avalanche of requests for lower VAT for children's literature, children’s clothing and other goods and services.
Text source: sofiaecho.com
Photo: bilfax.com
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