Minimum wage

Bulgaria: New Regulations and Changes in Effect as of January 1, 2024

With the start of the new year, several significant changes and regulations have come into effect across Bulgaria, impacting various aspects of daily life and welfare.

1. Minimum Wage Increase: The minimum wage sees a substantial hike, climbing from BGN 780 to BGN 933 (EUR 476), resulting in a net pay of BGN 723.99 after deductions.

Minimum wage hiked by 49 percent for 2024

The monthly met minimum wage will be 17,002 Turkish Liras ($578) in 2024 for millions of employees, Labor and Social Security Minister Vedat Işıkhan has announced.

The new minimum wage level is 49 percent higher compared with July, when the wage was increased in a mid-year adjustment. It marks a 100 percent hike from January last year.

Minimum wage talks set to kick off

The commission, comprised of representatives from the government, employers' and labor unions, is set to hold the first round of talks on the minimum wage for millions of workers today.

The Minimum Wage Determination Commission will meet four times in December before announcing the wage, which will take effect in 2024.

Reforming taxation

The intervention attempted in the taxation of freelancers and the self-employed could find resistance everywhere: Those affected may consider it too high, while salaried employees, who are not able to hide their income, may consider it cowardly, as the income that the self-employed are required to declare is placed at the minimum wage level.

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