Value-added tax

Cyprus is currently facing a serious issue with its 5% value-added tax rate for first-time homeowners, as the European Commission has issued a final warning to Nicosia to pass a bill that regulates the issue, which has been ongoing since 2020.

The Household Basket is a successful measure that, in combination with the Market Pass, has helped to lower inflation, Development and Investment Minister Adonis Georgiadis asserted in a press conference held on Wednesday.

The receipts in the National Revenue Agency as of March 17, 2023 are over BGN 6.4 billion, the NRA reports.

This is BGN 752 million or nearly 13% more compared to the same period last year.

By mid-March, revenues for the central budget exceeded BGN 3.7 billion, which is an increase of 9.8% compared to the first two and a half months of the previous year.

Despite the increase in prices of eggs in January from 72.4%, on the annual basis, wholesale prices of Bulgarian eggs are among the lowest in the EU. This is what Ivaylo Galabov, chairman of the Union of Poultry Breeders in Bulgaria said for BTA.

"This whole crisis, that the state is bankrupt and that the leva-euro exchange rate is at risk, was really a piece of fake news, to which the BNB immediately reacted, and the next day the finance minister retracted her words," said the co-chairman of "We Continue the Change" Kiril Petkov on Nova TV.

The Ministry of Finance is preparing a draft Budget 2023 with a deficit of 3%, tax changes and cutting some expenses. This became clear at a briefing by Acting Finance Minister Rositsa Velkova.

The project provides for:

"Bulgargaz" Ltd. submitted to the Energy and Water Regulation Commission (EWRC) an application for approval of the price for the month of April 2023. The price, in the amount of BGN 103.08/MWh (without prices for access, transmission, excise duty and VAT), was established in accordance with Art. 17 of Ordinance No.

The high tax collection rate, combined with the rise in takings from overdue debts, led to an increase in budget revenues in the previous year. This fact enabled the government to provide significant support measures for households and pensioners.

BGN 124.35/MWh (excluding excise duty and VAT) is the final proposed price for February 2023 at which Bulgargaz EAD will sell natural gas to final suppliers and to persons who have been issued a license for the production and transmission of thermal energy.

The Greek state budget recorded a deficit of 11.656 billion euros in 2022, below a budget target for a shortfall of €13.4 billion and a deficit of €14.872 billion in 2021, the Finance Ministry said in a report on Wednesday.