The Bulgarian Industrial Capital Association (BICA) welcomes some of the Finance Ministry’s proposed amendments to tax and accounting legislation, but warns that other measures pose significant risks to the predictability of the business environment, equal treatment of companies and investment activity. BTA received the Association’s opinion addressed to Deputy Prime Minister and Finance Minister Galab Donev on Thursday.
BICA says a significant part of the proposals is aimed at easing the burden on businesses, updating value thresholds that have remained unchanged for years, encouraging investment and reducing the regulatory burden. At the same time, certain measures are being proposed that pose significant risks to tax neutrality and the predictability of the business environment.
The Association describes a competitive tax environment as one of the main comparative advantages of the Bulgarian economy. The tax system should be simple, predictable and sustainable, with low rates and a broad tax base, ensure equal treatment of taxpayers and avoid imposing unjustified administrative costs on businesses.
BICA believes that higher budget revenues should primarily be sought through economic growth, broadening the tax base, curbing undeclared economic activity and improving tax collection, rather than by increasing the tax burden on compliant taxpayers.
BICA’s opinions on the individual draft laws and proposals can be found here.
On September 23, the Finance Ministry proposed a package of tax changes which, according to the ministry’s estimates, are expected to generate EUR 1.4 billion in budget revenues.
Industrial Capital Association Backs Some Tax Changes, Warns of Risks to Business and Investment THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-10-01 13:55:55
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