Value-added tax

Payment plan being devised for coronavirus-related debts

The tax discount incentive for enterprises suffering as a result of the coronavirus failed to prop up the state budget, which showed a decline in revenues of between 30 and 35 percent. However, as one Finance Ministry official points out, had the government not offered that discount, the revenue losses would have been much greater.

The EC Waives Customs Duties and VAT for Import of Necessary Medical Equipment

The European Commission will temporarily waive duties and VAT on imports of essential medical equipment to help fight the coronavirus.

"This will make it easier financially to get the medical equipment that doctors, nurses and patients desperately need.

The Commission has swiftly approved requests received from all Member States.

Petrol Stations: The Fuel Consumption Dropped by between 40 and 80% because of the State of Emergency

After Bulgaria declared a state of emergency because of the coronavirus, fuel consumption dropped by more than 40% in major cities and highways, and nearly 80% in small towns. The situation also creates great discomfort in fuel prices. This is commented on BGNES spokesman of the National Association of Traders and Transporters of Fuel Simo Simov.

Bulgaria’s GDP to Decline by 3% in the Worst Case Scenario

The latest budgetary changes adopted by the Bulgarian government are based on the worst case scenario for the development of the COVID-19 crisis, this country's Minister of Finance Vladislav Goranov said. We have developed three different scenarios, but we assume the most negative one, in order to guarantee the functioning of all public systems until the end of 2020.

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