Tax

Ljubljana – The Chamber of Commerce and Industry (GZS) is unhappy with the government’s plan to revoke parts of the tax reform adopted by the previous government, including a continued increase in the general tax relief for all earners. In a written response to the proposal, the GZS hails the government’s plan for a comprehensive tax reform to be be passed by 2024.

Ljubljana – The business daily Finance disputes in Monday’s commentary the provision in the government’s draft income tax act that would reinstate unlimited tenure for the chiefs of local tax offices, arguing that this paves the way for “nepotism, corruption and the creation of parallel mechanisms” that are damaging to a young democracy.

The minimum wage in Türkiye has been increased by 30 percent in a midyear adjustment to a net of 5,500 Turkish Liras (around $300), President Recep Tayyip Erdoğan announced on July 1.

The increase came on top of the 50 percent hike in January, which brought the minimum wage to a net of 4,250 liras.

More than BGN 14 million in rental income has been received by Bulgarians, real estate owners, who provide short-term accommodation for tourists through Airbnb, the National Revenue Agency (NRA) announced. The data refer to the second half of 2021 and have been submitted to the revenue agency by Airbnb, and the NRA expects information from Booking.com as well.

At an extraordinary meeting of the parliamentary Committee on Budget and Finance, deputies voted for zero VAT on bread. However, the proposal to reduce the tax on fruits and vegetables did not pass.

According to the agreement, countries would retain their sovereign right to offer lower corporate tax rates, but if that rate is lower than 15 per cent, other countries would have the right to collect the difference.

The government has submitted a proposal seeking a supplementary budget to allocate some additional 880 billion Turkish Liras for spending.

The draft bill, which was signed by President Recep Tayyip Erdoğan, on the additional budget has been forwarded to the parliament speaker's office.

"The motives for the no-confidence vote are unclear", Deputy Prime Minister and Finance Minister Asen Vassilev said today in parliament.

McDonald's will pay 1.25 billion euros ($1.3 billion) in France to avoid a legal case over tax evasion between 2009 and 2020, under an agreement approved yesterday by a Paris court.    

The quadruple ruling coalition is planning a controversial incentive to increase tax and social security collection. The government proposes that from 2023 a bonus be introduced for every citizen and company that has helped the tax authorities with information to establish hidden taxes and social security contributions.